Cybersecurity moves to top of bank worry list at OCC
- Seeking Alpha
As of October 2, 2017, Direxion Shares ETF Trust - Direxion Daily Cyber Security & IT Bull 2X Shares has gone out of business. Direxion Shares ETF Trust - Direxion Daily Cyber Security & IT Bull 2X Shares is an exchange traded fund launched by Direxion Investments. The fund is managed by Rafferty Asset Management, LLC. It invests in the public equity markets across the globe. The fund takes long positions to invest directly and indirectly through exchange traded funds and derivatives such as futures contracts, swap agreements, options, and forward contracts in stocks of companies operating in the cyber security sector, including companies that are involved in hardware or software, and services designed to protect computer hardware, software, networks and data from unauthorized access, vulnerabilities, attacks and other security breaches. It invests in the stocks of companies across all market capitalizations, with a minimum capitalization of $100 million. The fund also invests some portion of its portfolio in money market funds or short-term debt instruments that have terms-to-maturity of less than 397 days. It seeks to replicate twice the daily performance of the ISE Cyber Security Index. The fund uses a replication index method, investing in the common stock of each company in the Index in approximately the same proportion as represented in the Index itself. It was formerly known as Direxion Shares ETF Trust - Direxion Daily Cyber Security Bull 2X Shares. Direxion Shares ETF Trust - Direxion Daily Cyber Security & IT Bull 2X Shares was formed on September 16, 2015 and is domiciled in the United States.