NEW YORK, Sept. 30, 2021 /PRNewswire/ -- Direxion launched the Direxion Daily Select Large Caps & FANGs Bull 2X Shares (Ticker: FNGG). The Fund seeks to achieve 200% of the daily performance of the ICE FANG 20 Index.

The ICE FANG 20 Index provides exposure to Facebook, Apple, Amazon, Netflix, Google, Microsoft and similar highly-traded growth stocks of technology and tech-enabled companies from the information technology, communication services and consumer discretionary sectors, for a total of 20. As of September 10, 2021, the Index constituents had a median total market capitalization of $155 billion, with total market capitalizations ranging from $44 billion to $2.5 trillion.

* The Advisor has contractually agreed to waive a portion or all of its management fee and/or reimburse the Fund for other expenses through September 1, 2022.

"Originally conceived as four transformative, high growth stocks - Facebook, Amazon, Netflix and Google (now known as Alphabet) — Apple and Microsoft quickly joined the fold due to their "FANG-like" qualities. The ICE FANG 20 Index includes these six stock, along with 14 others carrying similar characteristics, including high average daily volume, high sales growth and the premium that market is placing on the businesses," said David Mazza, Managing Director, Head of Product at Direxion. "FNGG allows traders to take a bold position in a basket of 20 well-known, highly-traded growth stocks across the Technology, Media & Communications and Consumer Discretionary sectors." 

Like all leveraged ETFs, this Direxion product is intended only for investors with an in-depth understanding of the risks associated with seeking leveraged investment results, and who plan to actively monitor and manage their positions. There is no guarantee that this Fund will meet its objective.

About Direxion:

Direxion equips investors who are driven by conviction with ETF solutions built for purpose and fine-tuned for precision. These solutions are available for a broad spectrum of investors, whether executing short-term tactical trades, or investing in thematic strategies. Direxion's reputation is founded on developing products that precisely express market perspectives and allow investors to manage their risk exposure. Founded in 1997, the company has approximately $26.6 billion in assets under management as of June 30, 2021. For more information, please visit www.direxion.com.  

There is no guarantee that the Funds will achieve their investment objectives.

For more information on all Direxion Shares daily leveraged ETFs, go to direxion.com, or call us at 866.301.9214.

Leveraged ETFs are not suitable for all investors and should be utilized only by investors who understand the risks associated with seeking daily leveraged and inverse investment results, and intend to actively monitor and manage their investments. Due to the daily nature of the leveraged and inverse investment strategies employed, there is no guarantee of long-term inverse returns. Past performance is not indicative of future results.

An investor should carefully consider a Fund's investment objective, risks, charges, and expenses before investing. A Fund's prospectus and summary prospectus contain this and other information about the Direxion Shares. To obtain a Fund's prospectus and summary prospectus call 866-716-0735 or visit our website at direxion.com. A Fund's prospectus and summary prospectus should be read carefully before investing.

The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation, and competition, both domestically and internationally, including competition from competitors with lower production costs. The communication services sector may be dominated by a small number of companies which may lead to additional volatility in the sector.

Direxion Shares Risks - An investment in the ETFs involves risk, including the possible loss of principal. The ETFs are non-diversified and include risks associated with concentration that results from an ETF's investments in a particular industry or sector which can increase volatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. The ETFs do not attempt to, and should not be expected to, provide returns which are a multiple of the return of their respective index for periods other than a single day. For other risks including leverage, correlation, daily compounding, market volatility and risks specific to an industry or sector, please read the prospectus.

Distributor: Foreside Fund Services, LLC.

CONTACT:   
James Doyle
JConnelly
973.850.7308
[email protected]

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SOURCE Direxion