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01.03.2013 21:45
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Direxion Announces Reverse And Forward Share Splits Of 16 ETFs
Die Abkürzung ETF steht für "Exchange Traded Fund".
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PR Newswire
BOSTON, March 1, 2013
BOSTON, March 1, 2013 /PRNewswire/ -- Direxion, a leader in alternative investment solutions, announced today it will execute reverse share splits for eight of its leveraged exchange-traded funds ("ETFs"), as well as forward share splits for another eight leveraged 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.
The firm will execute a 1-for-6 reverse split of the shares of the Direxion Daily Energy Bear 3X Shares (ERY) and a 1-for-5 reverse split of the shares of the Direxion Daily China Bear 3X Shares (YANG), Direxion Daily Emerging Markets Bear 3X Shares (EDZ), Direxion Daily Technology Bear 3X Shares (TECS) and Direxion Daily Gold Miners Bull 3X Shares (NUGT) for shareholders of record after the close of the markets on Monday, April 1, 2013. The firm will also execute a 1-for-4 reverse split of the shares of the Direxion Daily Financial Bear 3X Shares (FAZ) and Direxion Daily Small Cap Bear 3X Shares (TZA), and a 1-for-3 reverse split of the shares of the Direxion Daily Mid Cap Bear 3X Shares (MIDZ) for shareholders of record after the close of the markets on Monday, April 1, 2013.
Additionally, Direxion will execute a 3-for-1 forward split of the shares of the Direxion Daily Financial Bull 3X Shares (FAS), Direxion Daily Retail Bull 3X Shares (RETL), Direxion Daily Emerging Markets Bull 3X Shares (EDC) and Direxion Daily S&P 500 Bull 3X Shares (SPXL) for shareholders of record after the close of the markets on Monday, April 1, 2013. The firm will also execute a 2-for-1 forward split of the shares of the Direxion Daily Real Estate Bull 3X Shares (DRN), Direxion Daily Latin America Bull 3X Shares (LBJ), Direxion Daily 7-10 Year Treasury Bull 3X Shares (TYD) and Direxion Daily Small Cap Bull 3X Shares (TNA) for shareholders of record after the close of the markets on Monday, April 1, 2013.
A summary of the eight ETFs undergoing reverse splits is as follows (Please note the CUSIP changes, effective April 2, 2013):
| ETF | CURRENT CUSIP ARIVA.DE Börsen-GeflüsterKurse
| NEW CUSIP | RATIO | |||||||||||||||
| | | | | |||||||||||||||
| Direxion Daily Energy Bear 3X Shares (ERY) | 25459W342 | 25459Y454 | 1:6 | |||||||||||||||
| | | | | |||||||||||||||
| Direxion Daily China Bear 3X Shares (YANG) | 25459W763 | 25459Y462 | 1:5 | |||||||||||||||
| | | | | |||||||||||||||
| Direxion Daily Emerging Markets Bear 3X Shares (EDZ) | 25459W482 | 25459Y470 | 1:5 | |||||||||||||||
| | | | | |||||||||||||||
| Direxion Daily Technology Bear 3X Shares (TECS) | 25459W318 | 25459Y439 | 1:5 | |||||||||||||||
| | | | | |||||||||||||||
| Direxion Daily Gold Miners Bull 3X Shares (NUGT) | 25459W250 | 25459Y496 | 1:5 | |||||||||||||||
| | | | | |||||||||||||||
| Direxion Daily Financial Bear 3X Shares (FAZ) | 25459W144 | 25459Y447 | 1:4 | |||||||||||||||
| | | | | |||||||||||||||
| Direxion Daily Small Cap Bear 3X Shares (TZA) | 25459W110 | 25459Y488 | 1:4 | |||||||||||||||
| | | | | |||||||||||||||
| Direxion Daily Mid Cap Bear 3X Shares (MIDZ) | 25459W136 | 25459Y421 | 1:3 |
A summary of the eight ETFs undergoing forward splits is as follows (CUSIPs remain the same):
| ETF | CUSIP | RATIO |
| | | |
| Direxion Daily Financial Bull 3X Shares (FAS) | 25459Y694 | 3:1 |
| | | |
| Direxion Daily Retail Bull 3X Shares (RETL) | 25459W417 | 3:1 |
| | | |
| Direxion Daily Emerging Markets Bull 3X Shares (EDC) | 25459Y686 | 3:1 |
| | | |
| Direxion Daily S&P 500 Bull 3X Shares (SPXL) | 25459W862 | 3:1 |
| | | |
| Direxion Daily Real Estate Bull 3X Shares (DRN) | 25459W755 | 2:1 |
| | | |
| Direxion Daily Latin America Bull 3X Shares (LBJ) | 25459Y652 | 2:1 |
| | | |
| Direxion Daily 7-10 Year Treasury Bull 3X Shares (TYD) | 25459W565 | 2:1 |
| | | |
| Direxion Daily Small Cap Bull 3X Shares (TNA) | 25459W847 | 2:1 |
Shareholders of record of the above ETFs on April 1, 2013 will participate in the reverse and forward splits. The Depository Trust Company ("DTC"), the registered owner of all ETF shares, has been notified of the reverse and forward splits and has been instructed to adjust each shareholder's investment accordingly.
The shares of each ETF will be offered on a split-adjusted basis on Tuesday, April 2, 2013. As stated previously, the total market value of the shares outstanding will not be affected as a result of the reverse and forward splits, except with respect to the redemption of fractional shares, as outlined below.
Hypothetical Example of 1-for-6 reverse split:
1-for-6 Reverse Split
| Period | # of Shares Owned | Hypothetical Market Price | Total Share Value |
| Pre-Split | 120 | $10 | $1,200 |
| Post-Split | 20 | $60 | $1,200 |
Hypothetical Example of 3-for-1 forward split:
3-for-1 Forward Split
| Period | # of Shares Owned | Hypothetical Market Price | Total Share Value |
| Pre-Split | 30 | $30 | $900 |
| Post-Split | 90 | $10 Werbung Mehr Nachrichten zum Fonds kostenlos abonnieren
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