DIREXION LAUNCHES AIRLINE SHARE ETF

Dino D'Amore
By Dino D'Amore December 14, 2010 14:57

DIREXION LAUNCHES AIRLINE SHARE ETF

Direxion launch Direxion Airline Shares ETF (FLYX). Direxion’s first non-leveraged ETF is linked to the NYSE Arca Airline Index. FLYX, launched December 8, owns 13 stocks and the fund’s annual expense ratio is 0.55%.

“Direxion is focused on continually developing new investment tools that provide sophisticated investors with direct exposure to a multitude of sectors. We’re very pleased to offer our first non-leveraged ETF for the passenger airline space, which reflects our commitment to meeting market demands in a variety of forms,” said Direxion President Dan O’Neill. “As the passenger airline space experiences increased trading volume, this new ETF provides direct access for investors looking to execute institutional-style strategies within this market. With exposure to only one European airline and no exposure to Asian airlines, FLYX offers investors cost-efficient, focused access to some of the most actively traded airline stocks in the Americas, so they can take a more surgical portfolio position.”

Dino D'Amore
By Dino D'Amore December 14, 2010 14:57
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