Demand for Direxion Funds' new exchange traded funds is growing as investors look to triple the performance of stock indexes.
The Direxion triple-leveraged funds, which debuted in November, climbed TheStreet.com Ratings' ranking of the 20 most-traded ETFs in February, based on average daily dollar volume.
The Direxion Financial Bear 3x Shares (FAZ) fund was No. 15 in the ETF ranking, up from 29 in January. The company's Financial Bull 3x Shares (FAS) fund rose to 19th from 23rd, and its Large Cap Bear 3X Shares (BGZ) fund leaped to 20th from 34th.
Eight of the 20 ETFs on the list below are leveraged, meaning they seek to multiply the performance of a given index, including five ProShares funds. Five are "inverse" funds that move opposite the market.Three funds from January's list didn't make the February roster. Oil Services HOLDRS (OIH) tumbled to No. 22 from 19. The leveraged ProShares Ultra QQQ (QLD)retreated to 24th from 17th, and the SPDR Mid Cap 400 (MDY) sank to 25th from 20th. The SPDR S&P 500 ETF (SPY) held the top spot with ease with $27.1 billion in average daily turnover. The PowerShares QQQ Trust (QQQQ) ranked second with $4.9 billion. The SPDR fund's top holdings include Exxon Mobil (XOM), General Electric (GE), AT&T (T) and Microsoft (MSFT).
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