Direxion Reverse Splitting 1 for 5 FAZ Among Others (FAZ)
These weird levered ETF’s and their tendencies to suck dollars out of unsuspecting and under informed investors is quite interesting. This coming February 23rd Direxion is reverse splitting the following ETF’s 1 for 5..
Direxion Daily Financial Bear 3x Shares (FAZ) * Direxion Daily Large Cap Bear 3x Shares (BGZ) * Direxion Daily Mid Cap Bear 3x Shares (MWN) * Direxion Daily Developed Markets Bear 3x Shares (DPK) * Direxion Daily Semiconductor Bear 3x Shares (SOXS) and TZA.
Let the fleecing continue .