Direxion To Close Daily Two-Year Treasury ETFs

Direxion, one of the largest providers of leveraged ETFs, has been extremely active on the product development front in 2010, rolling out a number of products that offer investors an opportunity to double down (or triple down) on various asset classes. But the company’s product line will shrink a bit in coming weeks, as firm has announced that it will close down the Daily 2-Year Treasury Bull 3x Shares (TWOL) and the Direxion Daily 2-Year Treasury Bear 3x Shares (TWOZ). The closure was recommended by Rafferty Asset Management, the adviser for the Direxion Shares ETF Trust. “Direxion is focused on only offering solutions that provide exposure to tradable sectors and markets,” said Dan O’Neill, President and CIO in a press release. “We believe in delivering products that directly meet the demands of sophisticated investors who seek to capitalize on changing market conditions. While interest in 2-Year Treasuries has [...] Click here to read the original article on ETFdb.com. Related Stories: Direxion Launches Leveraged Short Term Treasury ETFs (TWOL, TWOZ) ProShares Launches Ultra Treasury ETFs (UBT, UST) Direxion Brings 3x Leveraged ETFs To Europe