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Direxion has announced a change to the underlying index and investment objective for its Direxion Daily Semiconductor Bull 3X Shares (SOXL) and Direxion Daily Semiconductor Bear 3X Shares (SOXS). Effective around August 25, 2021, both ETFs will switch from the PHLX Semiconductor Sector Index to the ICE Semiconductor Index. These leveraged ETFs are designed for investors with a strong understanding of the inherent risks and are intended for active management. Direxion currently manages approximately $24.3 billion in assets as of March 31, 2021.
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