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 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 Report
also fell sharply, down 19.7% to $47.82 and down 26% to $37.88.
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 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.
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Andrea Tse
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