Curated News
By: NewsRamp Editorial Staff
June 21, 2024

Direxion to Close Three ETFs

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Source News Release

TLDR

  • Investors can take advantage of selling their holdings in the closing ETFs before the liquidation date to avoid potential market volatility.
  • The Board of Trustees decided to liquidate and close three ETFs due to insufficient investment assets, ceasing trading on NYSE Arca, Inc.
  • Closing the ETFs is in the best interest of the Funds and their shareholders, ensuring that their investment objectives are not compromised.
  • The liquidation and closing of the ETFs may present a unique opportunity for investors to understand the process of portfolio liquidation and distribution.

Impact - Why it Matters

Investors need to be aware that the Direxion Shares ETF Trust has decided to liquidate and close three ETFs, including the Direxion Hydrogen ETF, Direxion Moonshot Innovators ETF, and Direxion Daily Global Clean Energy Bull 2X Shares. This decision will impact shareholders and investors who currently hold shares in these ETFs or are considering investing in them in the future.

Summary

The Direxion Shares ETF Trust has decided to liquidate and close three ETFs based on the recommendation of the Funds’ adviser, Rafferty Asset Management, LLC. The Funds are Direxion Hydrogen ETF (HJEN), Direxion Moonshot Innovators ETF (MOON), and Direxion Daily Global Clean Energy Bull 2X Shares (KLNE). The Board concluded that liquidating and closing the Funds would be in the best interest of the Funds and their shareholders. The Funds will cease trading on the NYSE Arca, Inc. and will be closed to purchase by investors as of the close of regular trading on the NYSE on July 19, 2024.

Source Statement

This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Direxion to Close Three ETFs

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