Direxion Investments, begun trading 2 new ETFs: the Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 3x Shares (NYSE Arca: GUSH) and the Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3x Shares (NYSE Arca: DRIP) on Thursday, May 28, 2015.
Here is a synopsis of the new ETFs:

1.
FUND INFORMATION:

Symbol: GUSH	Exchange: NYSE Arca
Name: Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3x Shares	Net Expense Ratio: 0.95%

 

FUND OBJECTIVE:
The Daily S&P Oil & Gas Exp. & Prod. Bull 3x Shares seeks daily investment results, before fees and expenses, of 300% of  the performance of the S&P Oil & Gas Exploration & Production Select Industry Index.

 

2.
FUND INFORMATION:

Symbol: DRIP	Exchange: NYSE Arca
Name: Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3x Shares	Net Expense Ratio: 0.95%

 

FUND OBJECTIVE:
The Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3x Shares seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the performance of the S&P Oil & Gas Exploration & Production Select Industry Index.

REFERENCE INDEX:
The S&P Oil & Gas Exploration & Production Select Industry Index is provided by Standard & Poor’s (the “Index Provider”) and includes domestic companies from the oil and gas exploration and production sub-industry. The Index is designed to measure the performance of a sub-industry or group of sub-industries determined based on the Global Industry Classification Standards (GICS). Companies in the Index are classified using the GICS classifications which are determined primarily based on a company’s revenues, however, earnings and market perception are also considered by GICS. The Index consists of constituents of the S&P Total Market Index (S&P TMI) that belong to the GICS oil & gas & production sub-industry that satisfy the following criteria:
(1) have a float-adjusted market capitalization above $500 million with a float-adjusted liquidity ratio (defined by dollar value traded over the previous 12 months divided by the float-adjusted market capitalization as of the Index rebalancing reference date) above 90% or have a float-adjusted market capitalization above $400 million with afloat-adjusted liquidity ratio above 150%, and
(2) are U.S. based companies. The market capitalization threshold may be relaxed to ensure that there are at least 22 stocks in the Index as of the rebalancing effective date.
Rebalancing is done quarterly. The S&P TMI tracks all U.S. common stocks listed on the New York Stock Exchange (including the NYSE Arca, Inc. and NYSE Amex), the NASDAQ Global Select Market, the NASDAQ Select Market and the NASDAQ Capital Market.

As of April 30, 2015, the Index was comprised of 74 stocks. The companies included in the Index have a median market capitalization of $3.9 billion and are concentrated in the energy sector which is the GICS sector in which the companies in the Index are concentrated in as of April 30, 2015.

Index Sector Weightings (05/28/15):

Oil & Gas Exploration & Produc	79.88%
Oil & Gas Refining & Marketing	16.38%
Integrated Oil & Gas	3.74%

 

Index Top Ten Holdings (05/28/15):

Clean Energy Fuels Corp	2.22%
EP Energy Corp	1.77%
Energy XXI Ltd	1.66%
Laredo Petroleum Inc	1.63%
Range Resources Corp	1.62%
California Resources Corp	1.59%
Rosetta Resources Inc	1.55%
EXCO Resources Inc	1.55%
SM Energy Co	1.54%
Rice Energy Inc	1.54%

 

 

Useful Links:
GUSH, DRIP Home Page