Direxion Launches Leveraged and Inverse Nvidia-focused ETFs for Short-term Trading

Direxion, a major asset manager with a portfolio of 78 ETFs totaling over $30 billion in assets, has introduced two single-stock ETFs providing leveraged and inverse exposure to Nvidia Corp., a prominent chipmaker. These new ETFs, the Direxion Daily NVDA Bull 1.5X Shares (NVDU) and the Direxion Daily NVDA Bear 1X Shares (NVDD), were launched on September 13th, 2023. These funds allow investors to access Nvidia’s common stock without the need to directly purchase the stock, offering tactical trading opportunities based on short-term market sentiment and company events. Direxion’s move follows the success of its Tesla single-stock ETF (Direxion Daily TSLA Bull 1.5X Shares), which has amassed over $1 billion in assets since its launch in August 2022.