Direxion Announces Reverse and Forward Share Splits Of 9 ETFs

direxion_logoDirexion, a leader in alternative investment solutions, has announced it will execute reverse share splits for seven of its leveraged exchange-traded funds (“ETFs”), as well as forward share splits for another two leveraged ETFs. The total market value of the shares outstanding will not be affected as a result of these splits, except with respect to the redemption of fractional shares.

Direxion will execute 1-for-4 reverse splits of the shares of the Direxion Daily India Bull 3X Shares (INDL), Direxion Daily Real Estate Bear 3X Shares (DRV), Direxion Daily Semiconductor Bear 3X Shares (SOXS), Direxion Daily Developed Markets Bear 3X Shares (DPK) and Direxion Daily Natural Gas Related Bear 3X Shares (GASX), effective at the open of the markets onTuesday, August 20, 2013. The firm will also execute a 1-for-5 reverse split of the shares of the Direxion Daily S&P 500 Bear 3X Shares (SPXS) and a 1-for-10 reverse split of the shares of the Direxion Daily Gold Miners Bull 3X Shares (NUGT), also effective at the open of the markets on Tuesday, August 20, 2013.

A summary of the seven ETFs undergoing reverse splits is as follows (please note the CUSIP changes, effective Tuesday, August 20, 2013):

ETF Current CUSIP New CUSIP Ratio
Direxion Daily Gold Miners Bull 3X Shares (NUGT) 25459Y496 25459Y389 1:10
Direxion Daily S&P 500 Bear 3X Shares (SPXS) 25459W151 25459Y371 1:5
Direxion Daily India Bull 3X Shares (INDL) 25459W383 25459Y330 1:4
Direxion Daily Real Estate Bear 3X Shares (DRV) 25459Y660 25459Y363 1:4
Direxion Daily Semiconductor Bear 3X Shares (SOXS) 25459W128 25459Y314 1:4
Direxion Daily Developed Markets Bear 3X Shares (DPK) 25459W169 25459Y355 1:4
Direxion Daily Natural Gas Related Bear 3X Shares (GASX) 25459W219 25459Y322 1:4

In addition, Direxion will execute 2-for-1 forward splits of the shares of the Direxion Daily Gold Miners Bear 3X Shares (DUST) and Direxion Daily Healthcare Bull 3X Shares (CURE) according to the following schedule:

Ex-Date:                    Tuesday, August 20, 2013
Record Date:              Friday, August 16, 2013
Payable Date:            Monday, August 19, 2013

A summary of the two ETFs undergoing forward splits is as follows (CUSIPs remain the same):

ETF CUSIP Ratio
Direxion Daily Gold Miners Bear 3X Shares (DUST) 25459W235 2:1
Direxion Daily Healthcare Bull 3X Shares (CURE) 25459Y876 2:1

The reverse and forward share splits were previously announced on July 24, 2013:
http://www.direxionfunds.com/press-release/direxion-announces-of-nine-etfs

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