Curated News
By: NewsRamp Editorial Staff
January 10, 2025

Direxion Announces Reverse Split of KORU ETF

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Source News Release

TLDR

  • Direxion's reverse split of Koru ETF offers a 90% decrease in shares, potentially increasing individual share value.
  • Direxion will implement a 1 for 10 reverse split of issued shares for the Direxion Daily MSCI South Korea Bull 3X Shares.
  • The reverse split by Direxion aims to streamline trading of fractional shares and enhance shareholder investment value.
  • Direxion's reverse split of Koru ETF provides a unique opportunity for investors to better understand leveraged investment risks.

Impact - Why it Matters

This news matters as it informs investors of the upcoming reverse split of the Direxion Daily MSCI South Korea Bull 3X Shares ETF. The reverse split will affect the total number of outstanding shares and the NAV, but not the market value for shareholders. Investors should be aware of the changes and potential tax implications resulting from the reverse split.

Summary

Direxion, a leading provider of tradeable ETFs, has announced a reverse split of the Direxion Daily MSCI South Korea Bull 3X Shares. The split will result in a 1 for 10 reverse split ratio, decreasing the total number of outstanding shares by 90%. The Fund's CUSIP will also change effective February 10, 2025.

Source Statement

This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Direxion Announces Reverse Split of KORU ETF

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