Direxion To Begin Trading The Direxion Daily Basic Materials Bear 3X Shares ETF (MATS) Wednesday June 15
Direxion will begin trading its new “Direxion Daily Basic Materials Bear 3X Shares ETF” (NYSE:MATS) Wednesday, June 15, 2011. The Direxion Daily Basic Materials Bear 3X Shares seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the price performance of the Basic Materials Index. The Basic Materials Index is an index that is comprised of companies that extract or process raw materials, and companies that manufacture chemicals, construction materials, glass, paper, plastic, forest products and related packaging products. The Basic Materials Index also includes metals and minerals miners, metal alloy producers, and metal fabricators.
The Direxion Daily Basic Materials Bear 3X Shares does not invest in equity securities. Under normal circumstances, it creates short positions by investing at least 80% of its net assets in Financial Instruments that, in combination, provide leveraged and unleveraged exposure to the Basic Materials Index, and the remainder in Money Market Instruments.
For the complete prospectus click: HERE