Financial Bear 3x Shares (FAZ) and 5 Others Leveraged ETFs To Execute Reverse Stock Splits

February 2, 2011 10:11 AM EST Send to a Friend
Direxion announced plans to execute reverse stock splits on six leveraged ETFs.

The firm will execute a 1-for-5 reverse split of the shares of the Direxion Daily Financial Bear 3x Shares (NYSE: FAZ), Direxion Daily Large Cap Bear 3x Shares (NYSE: BGZ), Direxion Daily Mid Cap Bear 3x Shares (NYSE: MWN), Direxion Daily Developed Markets Bear 3x Shares (NYSE: DPK) and Direxion Daily Semiconductor Bear 3x Shares (NYSE: SOXS).

Additionally, the firm announced it will execute a 1-for-3 reverse split of the shares of the Direxion Daily Small Cap Bear 3x Shares (TZA)

All of the splits will be effective for for shareholders of record after the close of the markets on Wednesday, Feb. 23, 2011.

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