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Direxion Daily Russia Bull 2X Shares (RUSL) announced the complete elimination of market exposure due to heightened volatility and sanctions against Russian securities. Effective March 3, 2022, RUSL will hold all its assets in cash until the liquidation date on March 18, 2022. Trading on NYSE Arca will cease on March 11, 2022. This move follows previous disclosures regarding the impact of geopolitical events on the fund's operations. Direxion has approximately $30.8 billion in assets under management as of December 31, 2021.
On March 2, 2022, Direxion Daily Russia Bull 2X Shares (RUSL) announced it would be underexposed to the market due to heightened volatility and sanctions on Russian securities following the invasion of Ukraine. The March 2, 2022 exposure for RUSL is reported at 83%. This limited exposure is a direct response to the increased restrictions imposed by the U.S. and other nations against Russia, emphasizing the impact of geopolitical events on financial instruments linked to Russian markets.
Direxion Daily Russia Bull 2X Shares (RUSL) announced it will be underexposed to the market on March 1, 2022, due to increased market volatility and sanctions affecting Russian securities. The fund's exposure for today is noted at 111%. This adjustment reflects the ongoing impact of geopolitical tensions stemming from the Ukraine invasion.
The announcement is a direct response to external market conditions and underscores the fluctuating nature of investment in this region.
Direxion has announced the liquidation of the Direxion Daily Russia Bull 2X Shares (ticker: RUSL) due to heightened market volatility and sanctions on Russian securities. The Board of Trustees determined that continuing operations is not economically feasible. Trading will cease on March 11, 2022, with liquidation expected to complete by March 18, 2022. Shareholders can sell shares before the Closing Date but will face trading restrictions during liquidation. Cash distributions will be made post-liquidation, potentially including capital gains.
Direxion has announced the suspension of share creations for its Daily Russia Bull 2X Shares (RUSL) ETF due to significant sanctions imposed on Russia following its military actions in Ukraine. This move is a response to market disruptions, including the closure of Russian securities markets effective February 24, 2022. While the Fund will continue to accept redemptions and shares can be traded on exchanges, the suspension may lead to increased tracking errors and potential premiums on share prices compared to their net asset value.
