ETF Sponsor Direxion Funds Announces a Reverse Split of 6 ETFs

ETF Sponsor Direxion Funds announced today that it is effecting reverse stock splits in six of its ETFs after the close of the markets on Wednesday, November 9th, 2011.? Though most reverse stock splits occur when a company��s (or ETF��s) stock falls below $5 per share, none of these ETFs appear to be priced that low.? Their press release does not indicate a reason for the planned reverse stock splits.

Following is some information on these ETFs�� stock price performance, as well as information about the nature of the planned reverse split.

• Direxion Daily Real Estate Bear 3X Shares (NYSE:DRV): This ETF will undergo a 1:5 reverse split. The shares recently traded at $15.77, up $1.21, or 8.31%, on the day.? The shares have traded in a 52-week range of $10.30 to $23.35 and its market capitalization is $41.06 million.? About the ETF: Direxion Daily Real Estate Bear 3X Shares is an exchange-traded fund incorporated in the USA.? The Fund��s objective is daily investment results, before fees and expenses, of 300% of the inverse of the MSCI US REIT Index.
• Direxion Daily Emerging Markets Bull 3X Shares (NYSE:EDC): This ETF will undergo a 1:5 reverse split. The shares recently traded at $13.35, up $0.60, or 4.71%, on the day.? The shares have traded in a 52-week range of $11.22 to $45.55 and its market capitalization is $263.92 million.? About the ETF: Direxion Daily Emerging Markets Bull 3X Shares is an exchange-traded fund incorporated in the USA.? The Fund seeks daily investment results of 300% of the price performance of the MSCI Emerging Markets Index.? The Fund invests at least 80% of its net assets in the equity securities that comprise the EM Index, including Depositary Receipts.
• Direxion Daily Financial Bull 3X Shares (NYSE:FAS):?This ETF will undergo a 1:5 reverse split. The shares recently traded at $10.12, down $0.07, or 0.69%, on the day.? The shares have traded in a 52-week range of $8.43 to $34.29 and its market c! apitaliz ation is $1.36 billion.? About the ETF: Direxion Daily Financial Bull 3X Shares is an exchange-traded fund incorporated in the USA.? The Fund��s objective is daily investment results, before fees and expenses, of 300% of the price performance of the Russell 1000(NYSE:R) Financial Services Index (��Financial Index��).? The Fund invests at least 80% of its net assets in the equity securities that comprise the Financial Index.
• Direxion Daily Latin America Bull 3X Shares (NYSE:LBJ):?This ETF will undergo a 1:5 reverse split.? The shares recently traded at $12.76, up $0.41, or 3.32%, on the day.? The shares have traded in a 52-week range of $10.66 to $46.25 and its market capitalization is $27.79 million.? About the ETF: Direxion Daily Latin America 3X Bull is an exchange-traded fund incorporated in the USA.? The Fund��s objective is daily investment results, before fees and expenses, of 300% of the price performance of the S&P Latin America 40 Index.
• Direxion Daily Russia Bull 3X Shares (RUSL): This ETF will undergo a 1:3 reverse split.? The shares recently traded at $9.04, down $0.32, or 3.42%, on the day.? The shares have traded in a 52-week range of $7.83 to $52.81. About the ETF: The investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the price performance of the DAX Global Russia + Index.
• Direxion Daily 20+ Year Treasury Bear 3X Shares (NYSE:TMV): This ETF will undergo a 1:5 reverse split.? The shares recently traded at $15.20, up $0.50, or 3.4%, on the day.? The shares have traded in a 52-week range of $13.75 to $51.28 and its market capitalization is $266.80 million.? About the ETF: Direxion Daily 20-Year Treasury Bear 3X is an exchange-traded fund incorporated in the USA. The Fund seeks daily investment results of 300% of the inverse of the price performance of the NYSE Current 20-Year U.S. Treasury Index. The Fund invests in Financial Instruments that, in combinatio! n, provi de leveraged and unleveraged exposure to the 20-Year Treasury Index.