Direxion, the creator of Daily Financial Bull 3X (FAS), recently filed to launch a 130/30 strategy ETF to add to their leveraged product line. It's a good time for Direxion to diversify: UBS (UBS), Edward Jones and Ameriprise (AMP) have halted the sales of leveraged funds, while Morgan Stanley (MS - Get Report) and Wells Fargo (WFC - Get Report) currently have the funds under review.)Leveraged funds lave been Direxion's bread and butter, sky rocketing the ETF issuer into the public and regulatory spotlight. Rather than betting on 3 times long and 3 times short pairs like Emerging Markets Bull 3X (EDC) and Emerging Markets Bear (EDZ), a 130/30 fund would combine both long and short strategies in one fund.
Direxion Diversifies With 130/30 ETF
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