Rochester, NY 8/6/2009 7:42:38 PM
FAZ - Direxion Controlled Winners and Losers
FINANCIAL BEAR 3XNEW
FINANCIAL BEAR 3XNEW, FAZ
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Direxion funds also appear frequently in the minus column, however, heading the second-quarter losers with a 77.24% drop in its Financial Bear 3X ETF and a 65.26% drop in its Emerging Market Bear 3X Fund. Other ETFs that fell in the top 16 losers included Direxion's Developed Market Bear 3X, Small Cap Bear 3X, Midcap Bear 3X, and Tech Bear 3X. Two Direxion mutual funds also made the list of losers: Emerging Market Bear 2X and Small Cap Bear 2.5X.
Both the Daily Financial Bull 3X and Daily Financial Bear 3X, which fell dramatically in 2009, were involved in a reverse split last Wednesday. The split, designed to lower trading costs in the low-cost high-volume ETFs, will at least temporarily restore the volatile funds to a higher share volume. An increase in volatility, however, could lead to erosion once again and investors could find themselves on the wrong end of the loser/gainer spectrum.
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