As of October 2, 2017, Direxion Shares ETF Trust - Direxion Daily S&P Biotech Bear 1X Shares has gone out of business. Direxion Shares ETF Trust - Direxion Daily S&P Biotech Bear 1X 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 of the United States. The fund takes short positions to invests through exchange traded funds and derivatives like futures contracts, options, swap agreements, and forward contracts in the stocks of companies operating in the biotechnology sector. It invests in the stocks of companies across all market capitalizations. The fund also invests some portion of its portfolio in money market funds or short-term debt instruments with terms-to-maturity of less than 397 days. It seeks to replicate the performance of the inverse of the daily performance of the S&P Biotechnology Select Industry Index. Direxion Shares ETF Trust - Direxion Daily S&P Biotech Bear 1X Shares was formed on December 3, 2015 and is domiciled in the United States.