Direxion, begun trading two new ETFs, the Direxion Daily Silver Miners Index Bull 2x Shares (NYSEArca: SHNY) and the Direxion Daily Silver Miners Index Bear 2x Shares (NYSEArca: DULL)  on Thursday, September 08, 2016. Here is a synopsis of the new ETFs:

 

1.
FUND INFORMATION:

Symbol: SHNY	Exchange: NYSE ARCA
Name: Direxion Daily Silver Miners Index Bull 2x Shares	Net Expense Ratio: 0.80%

 

FUND OBJECTIVE:
The Direxion Daily Silver Miners Index Bull 2x Shares seeks daily investment results, before fees and expenses, of 200% of the performance of the Solactive Global Silver Miners Index.
The Fund seeks daily leveraged investment results and does not seek to achieve its stated investment objective over a period of time greater than one day. The Fund, under normal circumstances, creates long positions by investing at least 80% of its assets in the securities that comprise the Solactive Global Silver Miners Index and/or financial instruments that provide leveraged and unleveraged exposure to the Index. These financial instruments include: swap agreements; futures contracts; options; reverse repurchase agreements; ETFs; and other financial instruments. On a day-to-day basis, the Fund invests the remainder of its assets in money market funds, depository accounts with institutions with high quality credit ratings or short-term debt instruments that have terms-to-maturity of less than 397 days and exhibit high quality credit profiles, including U.S. government securities and repurchase agreements.

 

 

Useful Links:
SHNY Home Page

 

2.
FUND INFORMATION:

Symbol: DULL	Exchange: NYSE ARCA
Name: Direxion Daily Silver Miners Index Bear 2x Shares	Net Expense Ratio: 0.80%

 

FUND OBJECTIVE:
The Direxion Daily Silver Miners Index Bear 2x Shares seeks daily investment results, before fees and expenses, of 200% of the inverse (or opposite) of the performance of the Solactive Global Silver Miners Index.
The Index is composed of equity securities of issuers involved in the exploration and production of silver and does not track changes in the spot price of silver as a commodity. The Fund seeks daily inverse leveraged investment results and does not seek to achieve its stated investment objective over a period of time greater than one day. The Fund,under normal circumstances,creates short positions by investing at least 80% of its assets in: swap agreements; futures contracts; options; reverse repurchase agreements; ETFs; and other financial instruments that, in combination, provide inverse leveraged and unleveraged exposure to the Solactive Global Silver Miners Index. On a day-to-day basis, the Fund invests the remainder of its assets in money market funds, depository accounts with institutions with high quality credit ratings or short-term debt instruments that have terms-to-maturity of less than 397 days and exhibit high quality credit profiles, including U.S. government securities and repurchase agreements. The Fund does not invest in long equity securities.

 

Useful Links:
DULL Home Page

 

 

REFERENCE INDEX:
The Solactive Global Silver Miners Index is composed of equity securities of issuers involved in the exploration and production of silver and does not track changes in the spot price of silver as a commodity.
The Index is designed to measure broad based equity market performance of companies involved in the silver mining industry, as defined by Structured Solutions AG (Index Provider). The Index includes a minimum of 20 and a maximum of 40 stocks of US and foreign companies active in exploration, mining and/or refining of silver, including stocks of small- and medium- capitalization companies. Index adjustments are carried out semi-annually.
As of January 29, 2016, the Index’s 20 members were principallylocated in Canada, the United Kingdom, the United States and Mexico. The Index was concentrated in the silver mining industry as of January 29, 2016.

 

Index Top Holdings (06/30/16):

Silver Wheaton Corp	12.51%
Fresnillo PLC	12.27%
Pan American Silver Corp	11.48%
Tahoe Resources Inc	9.25%
Coeur Mining Inc	6.34%
Hecla Mining Co	5.69%
Industrias Penoles SAB de CV	5.64%
First Majestic Silver Corp	4.88%
Polymetal International PLC	4.68%
MAG Silver Corp	4.09%

 

Index Country Weightings (06/30/16):

Canada	53.22%
United States	21.28%
Mexico	17.91%
Russia	4.68%
Peru	2.91%

 

 

 

Category: Commodities> Precious Metals> Silver> Silver Miners