Direxion Daily Global Clean Energy Bull 2X Shares
KLNE
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- Direxion Daily Global Clean Energy Bull 2X Shares (KLNE) seeks daily investment results, before fees and expenses, equal to 200% of the performance of the S&P Global Clean Energy Index, which tracks companies from developed and emerging markets engaged in global clean energy businesses including renewable electricity production, alternative energy resources, biofuels, fuel cells, solar and wind energy equipment, hydroelectric power generation, and clean energy technology and equipment; the fund invests at least 80% of its net assets in financial instruments such as swap agreements, index securities, and exchange-traded funds that provide leveraged exposure to the index, with a primary holding in the iShares Global Clean Energy ETF. The ETF targets sophisticated investors seeking amplified short-term tactical exposure to the clean energy sector across diversified market capitalizations, growth and value stocks, and regions with significant representation from the United States, Denmark, China, Spain, and others. Launched on July 29, 2021 by Direxion Shares ETF Trust, managed by Rafferty Asset Management, LLC and domiciled in the United States with headquarters operations aligned to Direxion's New York base, KLNE trades on NYSE Arca. In a major development, Direxion Shares ETF Trust announced the liquidation and closure of KLNE on June 21, 2024 due to insufficient investment assets, with trading suspended before the open on July 22, 2024, final cash distributions of $6.31162 per share to remaining shareholders on July 30, 2024, and full termination thereafter; this followed no other reported partnerships, acquisitions, funding rounds, or product launches specific to KLNE in the prior 1-2 years.