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Direxion Cuts Leverage on 10 Funds to 200%, Closes Eight Others

March 24, 2020 10:21 pm by IWB

Effective May 19 2020, Direxion is updating the objectives of 10 leveraged ETF, some of them Gold based.

Originally found the article on Bloomberg: https://www.bloomberg.com/amp/news/articles/2020-03-23/ten-leveraged-direxion-funds-cut-exposure-amid-global-turmoil?utm_medium=deeplink

Here’s also the statement from Direxion: http://www.direxion.com/press-release/direxion-changes-objectives-of-ten-leveraged-funds-to-address-extreme-market-conditions-while-also-closing-eight-funds-due-to-limited-interest-since-launch

Really exemplary primer from @pearkes on all the Fed facilities in his evening note Monday.
Nancy Pelosi is prioritizing the Green New Deal over rescue aid for American families and small businesses. What in the world does that have to do with COVID-19?!
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