Direxion Daily Natural Gas Related Bear 3X Shares (GASX)
Direxion Daily Natural Gas Related Bear 3X Shares operates in the Asset Management - Leveraged industry of the Financial Services sector, headquartered in US. The stock last traded at $16.00, up 19.67% on the session, giving a market capitalisation of $17.1M. Its beta of -5.52 implies it has historically moved less than the broad market.
This investment vehicle seeks to generate daily returns, after accounting for fees, that are three times the inverse of the ISE-Revere Natural Gas IndexTM's daily performance. Under typical market conditions, the fund achieves this by deploying capital into a mix of financial instruments, such as swap agreements, futures contracts, and short positions. These holdings are strategically combined to deliver inverse (or short leveraged) exposure to the index, representing at least 80% of the fund's total net assets (including any borrowed funds used for investment). The underlying ISE-Revere Natural Gas IndexTM is constructed to exploit both immediate, event-driven news and broader, long-term market trends within the natural gas sector. Notably, this fund maintains a non-diversified portfolio, indicating a focused investment strategy.
Direxion Daily Natural Gas Related Bear 3X Shares is most often compared with the following Financial Services names: