Direxion has announced that they will begin trading the Direxion Daily Junior Gold Miners Index Bull 3X Shares (NYSEArca:JUNG) Thursday, October 03, 2013. The Fund seeks daily investment results, before fees and expenses, of 300% of the performance of the Market Vectors Junior Gold Miners Index. The Index is composed of equity securities of issuers involved in the exploration and production of gold and does not track changes in the spot price of gold as a commodity.
Total Annual Fund Operating Expenses After Expense Cap/Reimbursement: 1.00%
Principal Investment Strategies
The Fund, under normal circumstances, creates long positions by investing at least 80% of its assets in the securities that comprise the Market VectorsTM Junior Gold Miners Index (“Index”) and/or financial instruments that provide leveraged and unleveraged exposure to the Index. These financial instruments include: futures contracts; options on securities, indices and futures contracts; equity caps, floors and collars; swap agreements; forward contracts; short positions; reverse repurchase agreements; exchange-traded funds (“ETFs”); and other financial instruments. On a day-to-day basis, the Fund also may hold short-term debt instruments that have terms-to-maturity of less than 397 days and exhibit high quality credit profiles, including