Direxion changes Daily Russia Bull 3X, Daily Russia Bear 3X benchmark

By Tali David

Minneapolis, Jan. 17 - The board of trustees of Direxion Shares ETF Trust approved a change in the benchmark index of the Direxion Daily Russia Bull 3X Shares and Direxion Daily Russia Bear 3X Shares, according to a 497 filing with the Securities and Exchange Commission.

Effective March 19, each fund's benchmark index will be changed to the Market Vectors Russia Index from the DAX Global Russia + Index. Each fund's investment objectives will stay the same, with the exception of the change in the index.

The funds will now invest at least 80% of its net assets in financial instruments that provide exposure to the new index.

The funds' investment adviser is New York-based Rafferty Asset Management, LLC.

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