Rafferty Asset Management Closing 12 ETFs

NEW YORK, Sept. 2, 2017 /PRNewswire/ -- The Board of Trustees of the Direxion Shares ETF Trust (the "Trust") has decided to liquidate and close 12 ETFs (each a "Fund" and collectively the "Funds") based on the recommendation of Rafferty Asset Management, LLC, the Trust's advisor, ("Rafferty"). A summary of the ETFs closing is as follows:

Due to the Funds' inability to attract sufficient investment assets, Rafferty believes the Funds cannot continue to conduct their business and operations in an economically efficient manner. As a result, the Board determined that liquidating and closing the Funds would be in the best interest of each Fund and its shareholders.

Shares of each Fund will stop trading on the NYSE Arca, Inc., and will no longer be open to purchase by investors, after the close of regular trading on September 25, 2017 ("the Closing Date"). Shareholders may sell their holdings in each Fund prior to the Closing Date and customary brokerage charges may apply to these transactions. However, from September 26, 2017 through October 2, 2017 (the "Liquidation Date"), shareholders may only be able to sell their shares to certain broker-dealers and there is no assurance that there will be a market for each Fund's shares during this time period. Between the Closing Date and the Liquidation Date, each Fund will be in the process of closing down and liquidating its portfolio. This process will result in each Fund increasing its cash holdings and, as a consequence, not tracking its underlying index.

On or about the Liquidation Date, the Funds will liquidate their assets and distribute cash pro rata to all remaining shareholders who have not previously redeemed or exchanged their shares.  These distributions are taxable events. In addition, these payments to shareholders will include accrued capital gains and dividends, if any. As calculated on the Liquidation Date, each Fund's net asset value will reflect the costs of closing the Fund.  Once the distributions are complete, the Funds will terminate.

About Direxion:

Direxion builds bold products for investors who want more than the status quo. Our index-based products deliver directional options, magnified exposure, and long-term, rules-based strategies. Founded in 1997, the company has approximately $12.1 billion in assets under management as of June 30, 2017. Direxion's diverse suite of products helps investors navigate today's ever-changing markets. For more information, please visit www.direxioninvestments.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 direxioninvestments.com, or call us at 866.476.7523.

The 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 consider the investment objectives, risks, charges, and expenses of Direxion ETFs carefully before investing. The prospectus and summary prospectus contains this and other information about Direxion ETFs. Download a prospectus and summary prospectus at direxioninvestments.com. The prospectus and summary prospectus should be read carefully before investing.

Direxion Shares Risks:

An investment in each Fund involves risk, including the possible loss of principal. Each Fund is non-diversified and includes risks associated with the Fund concentrating its investments in a particular industry, sector, or geographic region which can result in increased 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. Each Fund does not attempt to, and should not be expected to, provide returns which either track the performance of its underlying index or are a multiple of the performance of its underlying index for periods other than a single day. Risks of each Fund may include Effects of Compounding and Market Volatility Risk, Leverage Risk, Counterparty Risk, Intra-Day Investment Risk, for a bull fund Daily Index Correlation/Tracking Risk and Other Investment Companies (including ETFs) Risk, for a bear fund Daily Inverse Index Correlation/Tracking Risk, Shorting Risk and Cash Transaction Risk, risks specific to investment in the securities of a Fund's underlying index. Please see the summary and full prospectuses for a more complete description of these and other risks of each Fund.

Distributor: Foreside Fund Services, LLC.

SOURCE Direxion