Direxion Monthly NASDAQ-100 Bull 2X Fund Investor Class
DXQLX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 1301 Avenue Of The Americas (6th Avenue) New York NY United States of America 10019
- IPO Date
- May 1, 2006
- CIK
- 0001040587
- Website
- direxion.com
- Similar Companies
- Business
- Direxion Monthly NASDAQ-100 Bull 1.75X Fund (DXQLX) is an open-end mutual fund that seeks monthly investment results, before fees and expenses, equal to 175% of the calendar month performance of the NASDAQ-100 Index, a benchmark comprising 100 of the largest domestic and international non-financial companies listed on the NASDAQ Stock Market based on market capitalization; the fund invests at least 80% of its net assets (plus borrowing for investment purposes) in securities of the index, exchange-traded funds that track the index, and financial instruments including derivatives such as swaps that provide monthly leveraged exposure to the index or such ETFs. Managed by Rafferty Asset Management, LLC, a New York-based investment adviser, the fund employs a strategy designed to magnify monthly benchmark returns through leverage, reacting to gains by increasing market exposure and to losses by decreasing it, with a non-diversified portfolio that includes significant allocations to information technology, communication services, and consumer discretionary sectors mirroring the index's weightings. Launched on May 1, 2006, with investor class shares under ticker DXQLX and CUSIP 254939200, the fund is part of the Direxion Funds family, domiciled in the United States and distributed by ALPS Distributors, Inc., with offices in New York and Boston; it targets sophisticated investors who understand leverage risk and actively manage short-term positions rather than long-term holdings. The fund's gross expense ratio stands at 1.48%, with Rafferty having entered into an Operating Expense Limitation Agreement to cap total annual fund operating expenses at 1.35% of average daily net assets (excluding certain costs like acquired fund fees, taxes, and interest expenses) through at least September 1, 2026; as of recent data, assets under management approximate $531 million, with top holdings including Invesco QQQ Trust and derivatives aligned to the index's leading constituents such as NVIDIA, Microsoft, Apple, Broadcom, and Amazon.com. Recent distributions include an income dividend of $0.87 per share paid on January 2, 2025 (record date December 31, 2024), following $0.30 in 2024, supporting its focus on leveraged equity trading in the U.S. markets for institutional and retail tactical traders seeking amplified exposure to NASDAQ-100 volatility. In the past 1-2 years, Direxion, advised by Rafferty, has pursued strategic product expansions through launches of new daily leveraged and inverse single-stock ETFs, including those tracking Ford (July 2025), Boeing and Exxon Mobil (April 2025), and Berkshire Hathaway and Palantir (December 2024), alongside operational enhancements such as the appointment of Mo Sparks as Chief Product Officer in April 2025 to bolster its lineup of over 50 leveraged and inverse ETFs with $50.6 billion in total AUM as of June 30, 2025; the firm also announced closures of two underperforming ETFs (OOTO and CLDL) in June 2025 as part of portfolio optimization. These initiatives reflect Direxion's ongoing commitment to innovation in leveraged products amid market demand for tactical trading tools, with no major acquisitions or funding rounds specific to DXQLX reported, though the broader Direxion platform maintains strong performance rankings and expense management.