Direxion Low Priced Stock ETF
LOPX
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
•
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
- Address
- IPO Date
- Jul 22, 2021
- CIK
- 0001424958
- Similar Companies
- Business
- Direxion Low Priced Stock ETF (LOPX) seeks investment results that correspond to the performance of the Solactive Two Bucks Index before fees and expenses. The fund provides exposure to an equal-weighted portfolio of 50 low-priced U.S. equity securities selected quarterly based on technical criteria, including a closing share price between $2.00 and $5.00 (or adjusted ranges such as $1.25 to $10.00 in certain periods), minimum average daily trading volume of $1 million over three months, and market capitalization of at least $85 million; eligible securities span sectors such as health technology, electronic technology, and technology services. Sponsored by Direxion Shares ETF Trust and managed by Rafferty Asset Management, LLC, the ETF targets sophisticated investors seeking satellite holdings to complement broader portfolio positions and operates exclusively in U.S. markets. Launched on July 22, 2021, the ETF is headquartered at 1301 Avenue of the Americas, 28th Floor, New York, New York, under Direxion, a provider of leveraged, inverse, and thematic exchange-traded funds founded in 1997 in Alexandria, Virginia. In August 2022, Direxion announced the closure of LOPX, along with six other underperforming ETFs including TENG, CLDS, RWGV, RWVG, NIFE, and WWOW, due to insufficient assets under management; trading ceased on September 23, 2022, with full liquidation and pro rata cash distributions to remaining shareholders completed by September 30, 2022. The decision followed the fund's failure to attract adequate investment since inception, marking a strategic rationalization amid Direxion's ongoing expansion of single-stock leveraged and inverse ETFs, such as recent launches for Ford, Cisco, Qualcomm, Boeing, Exxon Mobil, Eli Lilly, Palo Alto Networks, AMD, Berkshire Hathaway, and Palantir in 2025. Post-liquidation, LOPX no longer trades and has terminated operations.