Form 497 Direxion Shares ETF Trus
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E-mailDIREXION SHARES ETF TRUST
Direxion Daily Small Cap Bear 3X ETF
(TZA)
Direxion Daily Technology Bear 3X ETF (TECS)
Direxion Daily Semiconductor Bear 3X ETF (SOXS)
Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF (DRIP)
Direxion Daily AI and Big Data Bear 2X ETF (AIBD)
Direxion Daily GOOGL Bear 1X ETF (GGLS)
Direxion Daily AMD Bear 1X ETF (AMDD)
(Each a “Fund” and collectively, the “Funds”)
Direxion Daily Technology Bear 3X ETF (TECS)
Direxion Daily Semiconductor Bear 3X ETF (SOXS)
Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF (DRIP)
Direxion Daily AI and Big Data Bear 2X ETF (AIBD)
Direxion Daily GOOGL Bear 1X ETF (GGLS)
Direxion Daily AMD Bear 1X ETF (AMDD)
(Each a “Fund” and collectively, the “Funds”)
Supplement dated June 10, 2026 to the
Summary Prospectuses, Prospectuses, and
Statements of Additional Information (“SAI”),
dated February 27, 2026, as last supplemented
Summary Prospectuses, Prospectuses, and
Statements of Additional Information (“SAI”),
dated February 27, 2026, as last supplemented
After the close of the markets on July 14, 2026 (the
“Effective Date”), each Fund will effect a reverse split of its issued and outstanding shares as follows:
| Fund Name |
Reverse Split Ratio |
Approximate decrease
in total number of
outstanding shares |
| Direxion Daily Small Cap Bear 3X ETF |
1 for 10 |
90% |
| Direxion Daily Technology Bear 3X ETF |
1 for 10 |
90% |
| Direxion Daily Semiconductor Bear 3X ETF |
1 for 10 |
90% |
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF
|
1 for 10 |
90% |
| Direxion Daily AI and Big Data Bear 2X ETF |
1 for 10 |
90% |
| Direxion Daily GOOGL Bear 1X ETF |
1 for 10 |
90% |
| Direxion Daily AMD Bear 1X ETF |
1 for 10 |
90% |
Effective after the close of markets on the Effective Date, each Fund’s CUSIP will change as noted in the table below:
| Fund Name |
Current CUSIP |
New CUSIP |
| Direxion Daily Small Cap Bear 3X ETF |
25460E232 |
25461H325 |
| Direxion Daily Technology Bear 3X ETF |
25461A494 |
25461H317 |
| Direxion Daily Semiconductor Bear 3X ETF |
25460G336 |
25461H291 |
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF
|
25460G328 |
25461H283 |
| Direxion Daily AI and Big Data Bear 2X ETF |
25461A692 |
25461H275 |
| Direxion Daily GOOGL Bear 1X ETF |
25461A601 |
25461H267 |
| Direxion Daily AMD Bear 1X ETF |
25461A395 |
25461H259 |
As a result of the reverse splits, every ten shares of the Funds will be exchanged for one share as indicated in the table above. Accordingly, the total number of the issued and outstanding shares for each Fund will decrease by the approximate percentage indicated above. In addition, the per share net asset value (“NAV”) and next day’s opening market price will be approximately ten-times higher for the Funds. Shares of the Funds will begin trading on their respective listing exchange (the “Exchange”) on a split-adjusted basis on July 15, 2026.
The next day’s opening market value of a Fund’s issued and outstanding shares, and thus a shareholder’s investment
value, will not be affected by the reverse splits. The table below illustrates the effect of a hypothetical one-for-ten reverse split anticipated for the Funds:
1-for-10
Reverse Split
| Period |
# of Shares Owned |
Hypothetical NAV |
Total Market Value |
| Pre-Split |
1,000 |
$1 |
$1,000 |
| Post-Split |
100 |
$10 |
$1,000 |
The Trust’s transfer agent will notify the
Depository Trust Company (“DTC”) of the reverse splits and instruct DTC to adjust each shareholder’s investment(s) accordingly. DTC is the
registered owner of the Funds’ shares and maintains a record of the Funds’ record owners.
Redemption of Fractional Shares and Tax
Consequences of the Reverse Split
As a result of the reverse splits, a shareholder of a Fund’s shares potentially could hold a fractional share. However, fractional shares cannot trade on the Exchange. Thus, a Fund will redeem for cash a shareholder’s fractional shares at a Fund’s split-adjusted NAV as of the Effective Date. Such redemption may have tax implications for those shareholders, and a shareholder could recognize a gain or loss in connection with the redemption of the shareholder’s fractional shares. Otherwise, the reverse splits will not result in a taxable transaction for holders of Fund shares. No transaction fee will be imposed on shareholders for such redemption.
As a result of the reverse splits, a shareholder of a Fund’s shares potentially could hold a fractional share. However, fractional shares cannot trade on the Exchange. Thus, a Fund will redeem for cash a shareholder’s fractional shares at a Fund’s split-adjusted NAV as of the Effective Date. Such redemption may have tax implications for those shareholders, and a shareholder could recognize a gain or loss in connection with the redemption of the shareholder’s fractional shares. Otherwise, the reverse splits will not result in a taxable transaction for holders of Fund shares. No transaction fee will be imposed on shareholders for such redemption.
“Odd Lot” Unit
Also as a result of the reverse split, a Fund may have outstanding one aggregation of less than 25,000 or 50,000 shares, as applicable, to make a creation unit, or an “odd lot unit.” Thus, a Fund will provide one authorized participant with a one-time opportunity to redeem the odd lot unit at the split-adjusted NAV or the NAV on such date the authorized participant seeks to redeem the odd lot unit.
Also as a result of the reverse split, a Fund may have outstanding one aggregation of less than 25,000 or 50,000 shares, as applicable, to make a creation unit, or an “odd lot unit.” Thus, a Fund will provide one authorized participant with a one-time opportunity to redeem the odd lot unit at the split-adjusted NAV or the NAV on such date the authorized participant seeks to redeem the odd lot unit.
* * * * *
Please retain a copy of this Supplement with your Summary Prospectus, Prospectus, and SAI.
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