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Direxion Launches Two ETFs to Expand Leveraged and Inverse Lineup
July 27, 2016--New ETFs Offer 2X Bull Exposure to European Financials and Single Inverse Exposure to Gold Miners
Direxion announced today it has added two new ETFs to its existing lineup of leveraged and inverse ETFs.
The Direxion Daily European Financials Bull 2X Shares (Ticker: EUFL) seeks to achieve 200% of the daily performance of the MSCI Europe Financials Index.
The Direxion Daily Gold Miners Index Bear 1X Shares (Ticker: MELT) seeks to achieve 100% of the inverse of the daily performance of the NYSE Arca Gold Miners Index.
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Source: Direxion
Direxion Announces Reverse and Forward Share Splits of Nine Leveraged ETFs
July 26, 2016--Direxion has announced it will execute reverse share splits for four of its leveraged exchange-traded funds ("ETFs"), as well as forward share splits for another five leveraged ETFs.
The total market value of the shares outstanding will not be affected as a result of these splits, except with respect to the redemption of fractional shares, as outlined below.
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Source: Direxion
US interest rate benchmark hits 7-year high ahead of new rules
July 26, 2016--Rise comes ahead of new rules for money market funds that invest in short-term bonds.
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Source: FT.com
Economists argue for taxing trades
July 26, 2016--Two reports published Thursday by progressive think tanks back a financial transactions tax (FTT), arguing that such a tax on trades could make the financial sector more helpful to all Americans.
"If the tax is dedicated to funding higher education, as some have suggested, this would amount to transferring resources from the financial sector to the education sector,"
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Source: thehill.com
O'Shares FTSE US Quality Dividend ETF outperforms S&P 500 in its first year
July 26, 2016--Boston-based investment manager O'Shares Investments has announced that its smart beta fund, the O'Shares FTSE US Quality Dividend ETF (NYSE Arca: OUSA), outperformed the S&P 500 by 10.5% in the 12 months since its inception on 14 July last year.
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Source: etfstrategy.co.uk
OFR Financial Stability Assessment: Risks in Medium Range But U.K. Vote Weighs
July 25, 2016--The U.S. Office of Financial Research released today its mid-year summary assessment of threats to U.S. financial stability, concluding that overall risks remain in the medium range but have been pushed higher by the United Kingdom vote to exit the European Union.
"The result of the U.K. referendum surprised financial markets and was a negative shock to investor confidence. It introduces months or years of uncertainty about the rules governing the U.K.'s investment, financing, and trade relations with Europe and the rest of the world," said OFR Director Richard Berner.
view the Risks Still in the Medium Range, But Pushed Higher by U.K. Referendum Result report
Source: OFR (Office of Financial Research)
AdvisorShares Weekly Market Update-Surprised That There Were No Surprises
July 25, 2016--Highlights of the Prior week of July 18-July 22
Macro
The Republican National Convention came and went with no surprises. While there was talk, or idle speculation, of an attempted "coup" no such thing materialized. The presumptive nominee going in is now the nominee.
In this report we don't wade in with political opinion, we are simply
stating that there were no surprises and the markets were flat with an upside bias because of it...maybe, explanation fallacy would say it is futile to attribute movement to specific
events or, as the case may be, non-events. Stay tuned for
the Democratic version this week.
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Source: AdvisorShares
ProShares Announces Changes to ETF Lineup
July 25,2016--ProShares announced upcoming benchmark changes and liquidations for some of its ETFs.
Benchmark methodology changes
S&P Dow Jones Indices is changing the methodology of its GICS sector structure. It is creating a new GICS real estate sector, elevating the sector from an industry group within the GICS financials sector.
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Source: ProShares
55 Capital Launches Suite of Dynamically Managed Strategies Using ETFs
Industry Veterans Kranefuss and Nair Bring Institutional Expertise to Deliver Portfolios to Advisors and Investors
July 25, 2016--55 Capital, an investment manager delivering dynamically managed portfolios using ETFs, announced today the launch of its inaugural suite of strategies designed to provide advisors and investors with portfolios utilizing sophisticated, well-documented techniques broadly used by institutional investors to manage risk and enhance returns.
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Source: 55 Capital
SEC to Fast-Track Active ETFs
Move is win for Bats Global Markets and New York Stock Exchange, which compete for listing of such funds
July 22, 2016--The Securities and Exchange Commission moved to expedite the approval of exchange-traded funds run by human stock and bond pickers, a boost for the fast-expanding ETF industry.
The SEC on Friday approved "generic" listing standards for actively managed ETFs, guidelines that aim to cut months off the process of bringing these funds to market.
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Source: Wall Street Journal
