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Direxion Daily Financial Bear 3x Shares FAZ

The Fund seeks daily investment results before fees and expenses of 300% of the inverse or opposite of the daily performance of the Index. The Fund does not seek to achieve its stated investment objective for a period of time different than a trading day. The fund invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse or short leveraged exposure to the index equal to at least 80% of the funds net assets (plus borrowing for investment purposes). The index is a subset of the Russell 1000 Index that measures the performance of the securities classified in the financial services sector of the large-capitalization U.S. equity market. It is non-diversified.


ARCA:FAZ - Post by User

Direxion Daily Financial Bear 3x Shares
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Comment by Stocksnchartson Oct 19, 2010 3:30pm
120 Views
Post# 17583585

RE: Here is the news

RE: Here is the newsFunny how this news came out well after financials tanked today. Also, hilarious that Blackrock suing BAC, but BAC owns 34% of Blackrock. Also Fed suing BAC after bailing them out and forcing acquisitions of bad mortgages on them in the first place lol. What a mess!

NY Fed Part of Group Suing BofA Over Mortgage Securities

The New York Federal Reserve Bank is part of a consortium of eight large institutional investment firms that is suing Bank of America over failures related to mortgage securities, CNBC confirmed Tuesday.

Bloomberg reported earlier Tuesday that the New York Fed had joined with the Pacific Investment Management Company, better known as Pimco, and investment management firm BlackRock in an attempt to force BofA to buy back $47 billion in mortgage bonds.

https://www.cnbc.com/id/39745128

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