Direxion Shares changes names of three volatility response share funds

By Tali David

Minneapolis, Jan. 6 - Direxion Shares ETF Trust announced that three of its funds are now under new names, according to a 497 filing with the Securities and Exchange Commission.

The Direxion S&P RC 1500 Volatility Response Shares is now the Direxion S&P 1500 RC Volatility Response Shares, and its index will now operate under the name S&P Composite 1500(r) Dynamic Rebalancing Risk Control Index. The fund's ticker symbol will be "VSPR."

The Direxion S&P RC 600 Volatility Response Shares is now the Direxion S&P 600 RC Volatility Response Shares, and its index will operate under the name S&P SmallCap 600 Dynamic Rebalancing Risk Control Index. The fund will trade under the symbol "VSPY."

The Direxion S&P RC 500 Volatility Response Shares is now the Direxion S&P 500 RC Volatility Response Shares and will trade under the symbol "VLAT." The fund's index will operate under the name S&P 500 Dynamic Rebalancing Risk Control Index.

The filing also noted that the Direxion S&P Latin America 40 RC Volatility Response Shares' index name has changed and is now the S&P Latin America 40 Dynamic Rebalancing Risk Control Index.

In addition, Rafferty Asset Management, LLC, the funds' adviser, has agreed to waive 0.1% of its management fee and waive other fees and expenses for each of the funds through April 1, 2013 so that each fund's net annual operating expenses will not exceed 0.45%.

Direxion is a Milwaukee-based provider of liquid alternative investment solutions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.