3X ETFs: Winners and Losers
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) - Get Direxion Daily Russia Bull 2x Shares Report
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.
Likewise, the
Direxion Daily Large Cap Bull 3X Shares
(BGU)
and the
Direxion Daily Small Cap Bull 3X Shares
(TNA) - Get Direxion Daily Small Cap Bull 3x Shares Report
also fell sharply, down 19.7% to $47.82 and down 26% to $37.88.
TheStreet Recommends
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) - Get Direxion Daily Russia Bear 3x Shares Report
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.
>To contact the writer of this article, click here:
Andrea Tse
.
Copyright 2011 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
