Direxion has announced it will execute reverse share splits for 4 of its leveraged ETFs, as well as forward share splits for another 5 leveraged ETFs.
4 Reverse Splits:
Direxion will execute a 1-for-4 reverse split of the
Direxion Daily Natural Gas Related Bear 3X Shares (GASX).
The firm will also execute a 1-for-5 reverse split of the
Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares (DRIP),
Direxion Daily Gold Miners Index Bear 3X Shares (DUST) and
Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST).
The splits are effective at the open of the market on Aug. 25, 2016.
5 Forward Splits:
Additionally, Direxion will execute forward splits of the:
Direxion Daily Brazil Bull 3X Shares (BRZU) (4-for-1),
Direxion Daily Real Estate Bull 3X Shares (DRN) (4-for-1),
Direxion Daily 20+ Treasury Bull 3X Shares (TMF) (4-for-1),
Direxion Daily Gold Miners Index Bull 3X Shares (NUGT) (5-for-1) and
Direxion Daily Junior Gold Miners Index Bull 3X Shares (JNUG) (4-for-1).
After the close of the markets on Aug. 24, 2016 (Payable Date), each Fund will affect a split of its issued and outstanding shares.