Direxion filed in February for 24 ETFs based on eight specific stocks: Amazon, Meta Platforms, Alphabet, Microsoft, Netflix, Nvidia, Apple and Tesla. Direxion plans to offer funds that double the downside, double the upside for each of those stocks.
ETF Newz Says:
These ETFs are really designed for traders. “Most of our ETFs are tools for traders, people who can manage their portfolios on a daily basis, to make decisions either to amplify exposure or to hedge other risk in their portfolios,” David Mazza of Direxion said in a Monday interview. You can see the Amazon ETF being extremely popular with their split comming up.