Direxion Shares Exchange Traded Fund Trust (NYSEARCA:NUGT) has announced the reverse stock split


Dallas, Texas 07/31/2013 (Financialstrend) – The leading player in the management of alternative investment solutions in the form of exchange traded funds, the Direxion Capital had announced the stock splits to be carried out in their funds in the near future. It had been announced that there would be reverse stock split in seven of the company’s leveraged ETFs and forward stock split in two of the company’s ETFs. Further, the company had assured the shareholders that such share splits will not result in any reduction in the value of the stocks held by them except for the adjustments that would be made to the fractional shares.

It had been informed that the shares of Direxion Shares Exchange Traded Fund Trust (NYSEARCA:NUGT) would be subject to reverse stock split in the ratio of 1 to 10 shares and this stock split would be carried out before the market opens for trading on August 20, 2013. The unit prices of shares of this exchange traded fund had been presenting surging trends until recently and had started to move towards fall in prices in the recent days, which is expected to turn out to be a correction in the upward trend.

Direxion Shares Exchange Traded Fund Trust (NYSEARCA:NUGT) had closed for the day on Tuesday with $7.45 per share with a bearish behavior of 2.10% over the previous day’s closing price. The intraday movements of the stock were between a low value of $7.25 to a high value of $7.67 per share. The yearly stock price variations are between the lower value of $4.55 to a higher value of $26.11 per share. The total stock value of the company in the stock market is $578.43 million. The trading trend of the company for its latest trading day was 2.35 million shares.