Six Direxion ETFs To Undergo Reverse Splits

Direxion, one of the leading issuers of leveraged ETFs, announced reverse splits for six of its 3x bear funds. Five of the leveraged products will undergo 1-for-5 reverse splits for shareholders of record after the close of the markets on Wednesday, Feb. 23, 2011: Daily Financial Bear 3x Shares (FAZ) Daily Large Cap Bear 3x Shares (BGZ) Daily Mid Cap Bear 3x Shares (MWN) Daily Developed Markets Bear 3x Shares (DPK) Daily Semiconductor Bear 3x Shares (SOXS) Additionally, the Daily Small Cap Bear 3x Shares (TZA) will undergo a reverse 1-for-3 split. Each of the six ETFs will be assigned a new CUSIP following the reverse splits. Disclosure: No positions at time of writing. Click here to read the original article on ETFdb.com.Related Posts:March ETF Roundup: Launches, Filings, and ClosuresHow To Fix the Leveraged ETF MessResponding To Calls For ETF RegulationDirexion Brings 3x Leveraged ETFs To EuropeProShares Plans 300% Leveraged ETFs Click here to read the original article on ETFdb.com. Related Posts: March ETF Roundup: Launches, Filings, and Closures How To Fix the Leveraged ETF Mess Responding To Calls For ETF Regulation Direxion Brings 3x Leveraged ETFs To Europe ProShares Plans 300% Leveraged ETFs