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July 23, 2009 at 08:00 PM
Two new Direxion ETFs focused on real estate stocks have just been introduced.
The Direxion Daily Real Estate Bull 3x Shares (DRN) and the Direxion Daily Real Estate Bear 3x Shares (DRV) are leveraged real estate ETFs that attempt to deliver 300 percent the daily long and inverse performance of the MSCI U.S. REIT Index.
“The flexibility that our ETFs provide, on both the long and short side, can be especially valuable for sophisticated investors who use tactical strategies in order to navigate today’s volatile market,” says Dan O’Neill, president of Direxion Shares. “These two new ETFs further enhance our unique offering of solutions for the tactically minded investor.”
The MSCI U.S. REIT Index represents approximately 85 percent of the U.S. REIT universe. Through mid-July, the Vanguard REIT ETF (VNQ) which follows this same benchmark has declined by 11.58 percent.
