TECZ Direxion Daily Technology Bear 1X Shares (delisted)

NEW YORK, April 7, 2016 /PRNewswire/ -- Direxion announced today that it has added three new exchange-traded funds to its existing lineup of inverse ETFs. The new Funds allow tactical managers to hedge against downturns in popular S&P^® Select Sector Indexes. The Direxion Daily Energy Bear 1X Shares (Ticker: ERYY) seeks daily investment results, before fees and expenses, of 100% of the inverse of the performance of the Energy Select Sector Index. The Direxion Daily Financial Bear 1X Shares (Ticker: FAZZ) seeks daily investment results, before fees and expenses, of 100% of the inverse of the performance of the Financials Select Sector Index. The Direxion Daily Technology Bear 1X Shares (Ticker: TECZ) seeks daily investment results, before fees and expenses, of 100% of the inverse of the performance of the Technology Select Sector Index.

"Tactical managers are always preparing for potential market pullbacks, but know it's expensive to change the asset and security allocation of a portfolio. They have to consider capital gains, as well as the costs of using margin and short-selling," said Sylvia Jablonski, Managing Director at Direxion. "Inverse ETFs like these are especially useful for managers who want to hedge against short-term market risk without reconstructing their portfolios. They offer a simple, flexible and low-cost way to hedge."

Like all inverse ETFs, these Funds are intended only for traders with an understanding of the risks associated with seeking inverse investment results, and who plan to actively monitor and manage their positions. There is no guarantee that the Funds will meet their objectives. 

About Direxion:

Direxion builds bold products for investors who want more than the status quo. Our index-based products deliver directional options, magnified exposure, and long-term, rules-based strategies. Founded in 1997, the company has approximately $9.8 billion in assets under management as of March 31, 2016. Direxion's diverse suite of products helps investors navigate today's ever-changing markets. For more information, please visit www.direxioninvestments.com.  

There is no guarantee that the funds will achieve their objectives.

For more information on all Direxion Shares daily leveraged ETFs, go to direxioninvestments.com, or call us at 866-476-7523.

The ETFs are not suitable for all investors and should be utilized only by investors who understand the risks associated with seeking daily inverse investment results, and intend to actively monitor and manage their investments. Due to the daily nature of the inverse investment strategies employed, there is no guarantee of long-term inverse returns. Past performance is not indicative of future results.

An investor should consider the investment objectives, risks, charges, and expenses of Direxion ETFs carefully before investing. The prospectus and summary prospectus contains this and other information about Direxion ETFs. Download a prospectus and summary prospectus at direxioninvestments.com. The prospectus and summary prospectus should be read carefully before investing.

Risks:
An investment in the ETFs involves risk, including the possible loss of principal. The ETFs are non-diversified and include risks associated with concentration risk that results from the Funds' investments in a particular industry or sector which can increase volatility. The use of derivatives such as futures contracts, forward contracts, options and swaps are subject to market risks that may cause their price to fluctuate over time. The Fund does not attempt to, and should not be expected to, provide returns which are a multiple of the return of the Index for periods other than a single day. For other risks including correlation, compounding, market volatility and specific risks regarding each sector, please read the prospectus.

Distributor: Foreside Fund Services, LLC.

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SOURCE Direxion