NEW YORK ( TheStreet) -- Triple-leverage funds swung wildly during Monday's chaotic trading session to finish either drastically higher or lower.
The Direxion Daily Russia Bull 3X Shares (RUSL) lurched down 33.5% to settle at $23.03 as it bore the brunt of having leveraged exposures to the negative market action Monday, which was triggered by the first-ever downgrade of the credit rating of the United States by Standard & Poor's late Friday.
On the other hand, exchange-traded funds with a bearish bent, especially the triple-leveraged funds, climbed dramatically as stocks were butchered.The Direxion Daily Russia Bear 3X Shares (RUSS) skyrocketed 34.5% to settle at $52.53, as did the Direxion Large Cap Bear 3X Shares (BGZ), which soared 20.2% to end at $54.48. -- Written by Andrea Tse in New York.
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