RUSL to Eliminate Exposure Through March 18, 2022

Rhea-AI Summary

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.

Positive

• Direxion Daily Russia Bull 2X Shares will transition to holding assets in cash, potentially minimizing losses from market volatility.

Negative

• The fund's exposure is reduced to 0%, indicating a complete withdrawal from the market, which may lead to a loss of investor confidence.
• Trading will cease on March 11, 2022, followed by liquidation on March 18, 2022, indicating a significant operational disruption.

NEW YORK, March 3, 2022 /PRNewswire/ -- Due to the increased market volatility and restrictions on Russian securities and related exposure resulting from sanctions and other measures imposed on Russia by the United States and other countries in response to the Russian invasion of Ukraine, the Direxion Daily Russia Bull 2X Shares will eliminate all exposure to the market today and, instead, all of its assets will be held in cash.

As previously announced, shares of the Direxion Daily Russia Bull 2X Shares will cease trading on the NYSE Arca, Inc. ("NYSE") as of the close of regular trading on the NYSE on March 11, 2022 (the "Closing Date") and will liquidate on March 18, 2022 (the "Liquidation Date"). Effective today, March 03, 2022, the Direxion Daily Russia Bull 2X Shares will have a market exposure of 0% and will hold all of its assets in cash through the Liquidation Date and will then distribute all of its assets on the Liquidation Date.

Fund Name	Ticker	March 03, 2022 – March 18, 2022 Exposure
Direxion Daily Russia Bull 2X Shares	RUSL	0%

About Direxion:

Direxion equips investors who are driven by conviction with ETF solutions built for purpose and fine-tuned for precision. These solutions are available for a broad spectrum of investors, whether executing short-term tactical trades, or investing in thematic strategies. Direxion's reputation is founded on developing products that precisely express market perspectives and allow investors to manage their risk exposure. Founded in 1997, the company has approximately $30.8 billion in assets under management as of December 31, 2021. For more information, please visit www.direxion.com. 

There is no guarantee that the Funds will achieve their investment objectives.

For more information on all Direxion Shares daily leveraged ETFs, go to www.direxion.com, or call us at 866.301.9214.

Leveraged ETFs are not suitable for all investors and should be utilized only by investors who understand the risks associated with seeking daily leveraged and inverse investment results, and intend to actively monitor and manage their investments. Due to the daily nature of the leveraged and inverse investment strategies employed, there is no guarantee of long-term inverse returns. Past performance is not indicative of future results.

An investor should carefully consider a Fund's investment objective, risks, charges, and expenses before investing. A Fund's prospectus and summary prospectus contain this and other information about the Direxion Shares. To obtain a Fund's prospectus and summary prospectus call 866-716-0735 or visit our website at direxion.com. A Fund's prospectus and summary prospectus should be read carefully before investing.

Direxion Shares Risks - An investment in the ETFs involves risk, including the possible loss of principal. The ETFs are non-diversified and include risks associated with concentration that results from an ETF's investments in a particular industry or sector which can increase volatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. 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. For other risks including leverage, correlation, daily compounding, market volatility and risks specific to an industry or sector, please read the prospectus.

Distributor: Foreside Fund Services, LLC.

CONTACT:   
James Doyle
JConnelly
973.850.7308
jdoyle@jconnelly.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/rusl-to-eliminate-exposure-through-march-18-2022-301494804.html

SOURCE Direxion

FAQ

What is the current status of Direxion Daily Russia Bull 2X Shares (RUSL)?

RUSL has eliminated all market exposure and holds its assets in cash as of March 3, 2022.

When will RUSL stop trading on NYSE Arca?

RUSL will cease trading on NYSE Arca on March 11, 2022.

What happens to RUSL's assets after liquidation?

All of RUSL's assets will be distributed to shareholders on the liquidation date, March 18, 2022.

Why did RUSL eliminate market exposure?

The decision was made due to increased market volatility and sanctions imposed on Russian securities.

How much assets under management does Direxion have?

Direxion has approximately $30.8 billion in assets under management as of December 31, 2021.