The board of trustees of Direxion Shares ETF Trust has approved changes to the names, tickers and investment adviser of the Direxion Daily S&P 500 Bull 1.25X Shares and the Direxion Daily Small Cap Bull 1.25X Shares.
Direxion makes changes to two leveraged ETFs
The Direxion Daily S&P 500 Bull 1.25X Shares provides 125% of the daily performance of the S&P 500 Index. It has a net expense ratio of 0.34%.
The Direxion Daily Small Cap Bull 1.25X Shares provides 125% of the daily performance of the S&P Small Cap 600 Index. Its net expense ratio is 0.46%.
As of 15 February 2018, Rafferty Asset Management, the current investment adviser will be replaced with Direxion Advisors, a wholly owned subsidiary of Rafferty.
On the same day, each fund’s name and ticker will change as shown below.
| Current name | Current ticker | New name | New ticker |
| Direxion Daily S&P 500 Bull 1.25X Shares | LLSP | Portfolio+ S&P 500 ETF | PPLC |
| Direxion Daily Small Cap Bull 1.25X Shares | LLSC | Portfolio+ S&P Small Cap ETF | PPSC |