A reverse split results in the reduction of outstanding shares and an increase in the price of the underlying security. 25460E182. Thus, a Fund will provide one authorized participant with a one-time opportunity to redeem the odd lot unit after the split-adjusted NAV is struck on August 28, 2020. Direxion Daily Semiconductor Bear 3X Shares. 25460E539. & Prod. For prior years see complete reverse stock split history across our coverage universe. ... Redemption of Fractional Shares and Tax Consequences for the Reverse Split Due to the daily nature of the leveraged and inverse investment strategies employed, there is no guarantee of long-term inverse returns.

All quotes are in local exchange time. A Fund's prospectus and summary prospectus contain this and other information about the Direxion Shares. A shareholder's investment value, will not be affected by the reverse split. The tables below illustrate the effect of a hypothetical one-for-twenty, one-for-twelve, or one-for-ten reverse split anticipated for the Funds, as applicable and described above: The Trust's transfer agent will notify the Depository Trust Company ("DTC") of the reverse split and instruct DTC to adjust each shareholder's investment(s) accordingly.

endobj 1 0 obj 25490K745. 25460E539. As a result of the reverse stock split, each LABD share will be converted into the right to receive 0.05 (New) Direxion Daily S&P Biotech Bear 3X Shares. For more information on all Direxion Shares daily leveraged ETFs, go to direxion.com, or call us at 866.301.9214. … Direxion's reputation is founded on developing products that precisely express market perspectives and allow investors to manage their risk exposure. %PDF-1.7 Thus, a Fund will redeem for cash a shareholder's fractional shares at the Fund's split-adjusted NAV as of the Record Date. 25460G716. endstream Also as a result of the reverse split, a Fund may have outstanding one aggregation of less than 50,000 shares to make a creation unit, or an “odd lot unit.” Thus, a Fund will provide one authorized participant with a one-time opportunity to redeem the odd lot unit after the split-adjusted NAV is struck on August 28, 2020. OCC <>/Metadata 2 0 R/ViewerPreferences 6 0 R>> <> 25460G716. LABD Fund Description. endobj The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. For other risks including leverage, correlation, daily compounding, market volatility and risks specific to an industry or sector, please read the prospectus. The split ex-date is the date the stock starts trading at the new adjusted split price. Please note the CUSIP changes, effective August 28, 2020: As a result of these reverse splits, every twenty, twelve or ten shares of a Fund will be exchanged for one share as indicated in the table above.

The 1-20 reverse split was announced on … 7 0 obj var dom1 = document.querySelector('#form1783 #field1');var field1 = new LiveValidation(dom1, {validMessage: "", onlyOnBlur: false, wait: 300});field1.add(Validate.Presence, {failureMessage:"This field is required"});field1.add(Validate.Format, {pattern: /^([^@\s]+)@((?:[-a-z0-9]+\. SOXS. 3 0 obj Direxion Daily S&P Biotech Bear 3x Shares (NYSEARCA:LABD)’s stock is going to reverse split on the morning of Friday, August 28th. <>stream View original content:http://www.prnewswire.com/news-releases/direxion-announces-reverse-splits-of-six-daily-leveraged-etfs-301100605.html, Location*Please select…United StatesAfghanistanÅland IslandsAlbaniaAlgeriaAmerican SamoaAndorraAngolaAnguillaAntarcticaAntigua and BarbudaArgentinaArmeniaArubaAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelgiumBelizeBeninBermudaBhutanBolivia, Plurinational State ofBonaire, Sint Eustatius and SabaBosnia and HerzegovinaBotswanaBouvet IslandBrazilBritish Indian Ocean TerritoryBrunei DarussalamBulgariaBurkina FasoBurundiCambodiaCameroonCanadaCape VerdeCayman IslandsCentral African RepublicChadChileChinaChristmas IslandCocos (Keeling) IslandsColombiaComorosCongoCongo, the Democratic Republic of theCook IslandsCosta RicaCôte d'IvoireCroatiaCubaCuraçaoCyprusCzech RepublicDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEthiopiaFalkland Islands (Malvinas)Faroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabonGambiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuamGuatemalaGuernseyGuineaGuinea-BissauGuyanaHaitiHeard Island and McDonald IslandsHoly See (Vatican City State)HondurasHong KongHungaryIcelandIndiaIndonesiaIran, Islamic Republic ofIraqIrelandIsle of ManIsraelItalyJamaicaJapanJerseyJordanKazakhstanKenyaKiribatiKorea, Democratic People's Republic ofKorea, Republic ofKuwaitKyrgyzstanLao People's Democratic RepublicLatviaLebanonLesothoLiberiaLibyan Arab JamahiriyaLiechtensteinLithuaniaLuxembourgMacaoMacedonia, the former Yugoslav Republic ofMadagascarMalawiMalaysiaMaldivesMaliMaltaMarshall IslandsMartiniqueMauritaniaMauritiusMayotteMexicoMicronesia, Federated States ofMoldova, Republic ofMonacoMongoliaMontenegroMontserratMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNew CaledoniaNew ZealandNicaraguaNigerNigeriaNiueNorfolk IslandNorthern Mariana IslandsNorwayOmanPakistanPalauPalestinian Territory, OccupiedPanamaPapua New GuineaParaguayPeruPhilippinesPitcairnPolandPortugalPuerto RicoQatarReunionRomaniaRussian FederationRwandaSaint BarthélemySaint Helena, Ascension and Tristan da CunhaSaint Kitts and NevisSaint LuciaSaint Martin (French part)Saint Pierre and MiquelonSaint Vincent and the GrenadinesSamoaSan MarinoSao Tome and PrincipeSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSint Maarten (Dutch part)SlovakiaSloveniaSolomon IslandsSomaliaSouth AfricaSouth Georgia and the South Sandwich IslandsSouth SudanSpainSri LankaSudanSurinameSvalbard and Jan MayenSwazilandSwedenSwitzerlandSyrian Arab RepublicTaiwanTajikistanTanzania, United Republic ofThailandTimor-LesteTogoTokelauTongaTrinidad and TobagoTunisiaTurkeyTurkmenistanTurks and Caicos IslandsTuvaluUgandaUkraineUnited Arab EmiratesUnited KingdomUnited States Minor Outlying IslandsUruguayUzbekistanVanuatuVenezuela, Bolivarian Republic ofViet NamVirgin Islands (British)Virgin Islands, U.S.Wallis and FutunaWestern SaharaYemenZambiaZimbabwe.

These solutions are available for a broad spectrum of investors, whether executing short-term tactical trades, investing in macro themes, or building long-term asset allocation strategies. �2x��J�d?���^����^�d��^���1ICPHrŏ�(��m$[��8�m��`���DCH�GP��l�����hiU���/�F_�P��5�7 sOa�v!F;��@q���� yDl�:K-b*�i�"�/�F��P��ܴ��2��fy>��*yZ, DIREXION DAILY S&P BIOTECH BEAR 3X SHARES - REVERSE SPLIT OPTION SYMBOL: LABD NEW SYMBOL: LABD1. If the price was at $90 and the split is two-for-one, the price is halved to $45. The ETFs do not attempt to, and should not be expected to, provide returns which are a multiple of the return of their respective index for periods other than a single day. Redemption of Fractional Shares and Tax Consequences for the Reverse Split As a result of the reverse split, a shareholder of a Fund's shares potentially could hold a fractional share. Copyright © 2020 MarketWatch, Inc. All rights reserved. However, fractional shares cannot trade on the NYSE Arca.

DTC is the registered owner of the Funds' shares and maintains a record of the Funds' record owners. DIREXION DAILY S&P BIOTECH BEAR 3X SHARES - REVERSE SPLIT OPTION SYMBOL: LABD NEW SYMBOL: LABD1

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