DoubleLine Launching 2 ETFs, Direxion Closing 8
The fund’s investments include agency and non-agency commercial mortgage-backed securities and commercial real estate collateralized loan obligations, the firm said.
Meanwhile, Direxion Shares ETF Trust’s board announced Monday that the firm will liquidate and close eight ETFs “due to their inability to attract sufficient investment assets,” based on fund advisor Rafferty Asset Management’s recommendation.
The funds will be closed to new purchases effective April 21 at the end of the trading day.
The Direxion funds being shuttered are:
Direxion Breakfast Commodities Strategy ETF (BRKY)
Direxion mRNA ETF (MSGR)
Direxion Daily Tips Bull 2X Shares (TIPL)
Direxion Daily TIPS Bear 2X Shares (TIPD)
Direxion Daily S&P 500® Equal Weight Bull 2X Shares (EVEN)
Direxion Daily Oil Services Bull 2X Shares (ONG)
Direxion Daily Software Bull 2X Shares (SWAR)
Direxion Daily Metal Miners Bull 2X Shares (MNM)
In January, the firm closed four funds due to their inability to attract sufficient investment assets. They were:
Direxion Nanotechnology ETF (TYNE)
Direxion Daily FinTech Bull 2X Shares (FNTC)
Direxion Daily US Infrastructure Bull 2X Shares (DOZR)
Direxion Daily CSI 300 China A Shares Bear 1X Shares (CHAD)
(Photo: Alex Flynn/Bloomberg)
