Direxion Daily Communication Services Index Bear 3X Shares (MUTE)
Direxion Daily Communication Services Index Bear 3X Shares operates in the Asset Management - Leveraged industry of the Financial Services sector. The stock last traded at $45.65, down 8.25% on the session, giving a market capitalisation of $2.7M. Its beta of 0.00 implies it has historically moved less than the broad market.
The Direxion Daily Communication Services Index Bear 3X Shares fund (MUTE) is structured to provide daily investment outcomes, prior to the deduction of fees and expenses, that are three times the opposite of the daily movement of the Communication Services Select Sector Index. To achieve this amplified inverse exposure, the fund typically allocates at least 80% of its net assets to various financial instruments, including swap agreements, futures contracts, and short selling positions. The underlying Communication Services Select Sector Index consists of U.S.-based companies within the communication services industry, covering sectors such as diversified telecommunications, wireless communication, media, and entertainment. This fund is characterized as non-diversified.
Direxion Daily Communication Services Index Bear 3X Shares is most often compared with the following Financial Services names: