Direxion Daily Communication Services Index Bear 3X Shares
MUTE
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- IPO Date
- Jan 14, 2019
- CIK
- 0001424958
- Similar Companies
- Business
- Direxion Daily Communication Services Index Bear 3X Shares (MUTE) is an exchange-traded fund that seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the Communication Services Select Sector Index; the fund invests in swap agreements, futures contracts, short positions, and other financial instruments that provide inverse leveraged exposure equal to at least 80% of its net assets. The benchmark index comprises domestic companies from the communication services sector, encompassing industries such as diversified telecommunications services, wireless communication services, media, entertainment, and related subsectors targeting large-cap U.S. equities. MUTE, which lists on NYSE Arca, caters to sophisticated traders pursuing short-term tactical strategies amid sector volatility rather than long-term investment horizons. Direxion Daily Communication Services Index Bear 3X Shares operates under Direxion Shares ETF Trust, managed by Direxion, a provider of leveraged and inverse ETFs founded in 1997 and headquartered at 1301 Avenue of the Americas in New York, New York, with additional offices in Boston, Massachusetts, and Hong Kong. The firm oversees approximately $50.6 billion in assets under management as of June 30, 2025, positioning it among the top 20 global ETF providers by AUM, and maintains a focus on non-diversified funds designed for decisive investors seeking enhanced market exposure across equities, sectors, and themes. In recent developments, Direxion executed a 1-for-10 reverse split on MUTE shares effective in 2020 to address share price erosion common among leveraged products, alongside similar actions for peer bear 3X ETFs. The company has pursued aggressive product expansion in 2024 and 2025, launching multiple single-stock leveraged and inverse ETFs targeting semiconductors like Broadcom (AVGO), Micron (MU), and AMD; financial names such as Berkshire Hathaway; technology leaders including Boeing, Exxon Mobil, Palantir, Oracle; and broader suites like Titans Leveraged & Inverse ETFs and crypto/AI infrastructure tools. Further strategic moves include appointing Mo Sparks as Chief Product Officer in April 2025, announcing closures of three underperforming ETFs in October 2025, and conducting reverse splits on select funds like KORU in February 2025 and DUST/TECS/WEBS/YANG in late 2024 to optimize trading efficiency.