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Donnerstag,
27.04.2017 20:05
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PR Newswire
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Reminder: Direxion to Execute Reverse and Forward Share Splits of Fifteen ETFs
Die Abkürzung ETF steht für "Exchange Traded Fund".
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PR Newswire
NEW YORK, April 27, 2017
NEW YORK, April 27, 2017 /PRNewswire/ -- Direxion will execute the previously announced reverse share splits for eight of its exchange-traded funds ("ETFs"), as well as forward share splits for another seven ETFs. The total market value of the shares outstanding will not be affected as a result of these splits, except with respect to the redemption of fractional shares, as outlined below.
Eight Reverse Splits
Direxion will execute reverse splits of the Direxion Daily S&P 500® Bear 1X Shares, Direxion Daily Gold Miners Index Bull 3X Shares, Direxion Daily Junior Gold Miners Index Bull 3X Shares, Direxion Daily Junior Gold Miners Index Bear 3X Shares, Direxion Daily Semiconductor Bear 3X Shares, Direxion Daily Regional Banks Bear 3X Shares, Direxion Daily Russia Bear 3X Shares, and Direxion Daily S&P 500® Bear 3X Share. The splits are effective at the open of the market on May 1, 2017.
A summary of the eight ETFs undergoing reverse splits is as follows (please note the CUSIP changes, effective May 1, 2017):
| Fund Name | Ticker | Current CUSIP ARIVA.DE Börsen-GeflüsterKurse
| New CUSIP | Reverse Split Ratio | Approximate decrease in total number of outstanding shares | |||||||||||
| Direxion Daily S&P 500® Bear 1X Shares | SPDN | 25490K216 | 25460E869 | 1 for 2 | 50% | |||||||||||
| Direxion Daily Gold Miners Index Bull 3X Shares | NUGT | 25490K570 | 25460E844 | 1 for 4 | 75% | |||||||||||
| Direxion Daily Junior Gold Miners Index Bull 3X Shares | JNUG | 25490K554 | 25460E851 | 1 for 4 | 75% | |||||||||||
| Direxion Daily Junior Gold Miners Index Bear 3X Shares | JDST | 25490K141 | 25460E877 | 1 for 4 | 75% | |||||||||||
| Direxion Daily Semiconductor Bear 3X Shares | SOXS | 25490K778 | 25460E836 | 1 for 5 | 80% | |||||||||||
| Direxion Daily Regional Banks Bear 3X Shares | WDRW | 25459Y124 | 25460E802 | 1 for 5 | 80% | |||||||||||
| Direxion Daily Russia Bear 3X Shares | RUSS | 25490K786 | 25460E828 | 1 for 5 | 80% | |||||||||||
| Direxion Daily S&P 500® Bear 3X Shares | SPXS | 25459Y371 | 25460E885 | 1 for 5 | 80% |
As a result of this reverse split, every two, four or five shares of a Fund will be exchanged for one share as indicated in the table above. Accordingly, the total number of the issued and outstanding shares for the Funds will decrease by the approximate percentage indicated above. In addition, the per share net asset value ("NAV") and next day's opening market price will be approximately two-, four- or five-times higher for the Funds. Shares of the Funds will begin trading on the NYSE Arca, Inc. (the "NYSE Arca") on a split-adjusted basis on May 1, 2017.
The next day's opening market value of the Funds' issued and outstanding shares, and thus a shareholder's investment value, will not be affected by the reverse split. The table below illustrates the effect of a hypothetical 1-for-2, 1-for-4 or 1-for-5 reverse split anticipated for the Funds, as applicable and described above:
1-for-2 Reverse Split
| Period | # of Shares Owned | Hypothetical NAV | Total Market Value |
| Pre-Split | 120 | $10 | $1,200 |
| Post-Split | 60 | $20 | $1,200 |
1-for-4 Reverse Split
| Period | # of Shares Owned | Hypothetical NAV | Total Market Value |
| Pre-Split | 120 | $10 | $1,200 |
| Post-Split | 30 | $40 | $1,200 |
1-for-5 Reverse Split
| Period | # of Shares Owned | Hypothetical NAV | Total Market Value |
| Pre-Split | 120 | $10 | $1,200 Werbung Mehr Nachrichten zum Fonds kostenlos abonnieren
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