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Today, Direxion announced a change in strategy for a number of their funds.
Also, Direxion announced they are eliminating a number of highly leveraged funds for which there is insufficient interest.
NUGT, JNUG, DUST, and JDST will now have 2X leverage instead of 3X leverage.
They suggest that this change will improve their tracking ability during times of high volatility and low liquidity.
https://news.yahoo.com/direxion-changes-objectives-ten-leveraged-204600012.html
“While Also Closing Eight Funds Due to Limited Interest Since Launch.”
Such liars.
GASL is one of the funds being closed. (3x long natty equities like CHK)
GASL trades 20m shares daily, and over 300m shares the last two weeks.
So what…they all need to be closed down
They are ridiculous damn things
This ‘explanation’ really shows how STUPID the industry thinks we are.
….burn it down….
https://www.youtube.com/watch?v=KqxjRzzGn8k&list=PLNlb8nS8TTpsPSyq85GlkEdYNVRbPK3lb&index=27&t=0s