Direxion Daily Mid Cap Bear 3X Shares (MIDZ)
Direxion Daily Mid Cap Bear 3X Shares operates in the Asset Management - Leveraged industry of the Financial Services sector, headquartered in US. The stock last traded at $74.33, up 14.50% on the session, giving a market capitalisation of $6.9M. Its beta of -3.52 implies it has historically moved less than the broad market.
This fund aims to provide daily investment returns that are three times the inverse (opposite) of the daily performance of the S&P MidCap 400 Index, prior to deducting fees and expenses. To achieve this, it typically allocates at least 80% of its net assets (plus any capital borrowed for investment) to financial tools such as swap agreements, futures contracts, or short selling. These instruments are utilized to create the desired inverse and leveraged exposure to the benchmark index. The S&P MidCap 400 Index itself tracks the market performance of 400 medium-sized companies based in the United States. It's important to note that this fund operates as a non-diversified investment.
Direxion Daily Mid Cap Bear 3X Shares is most often compared with the following Financial Services names: