Direxion Fallen Knives ETF
NIFE
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ROIC.AI
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- Direxion Fallen Knives ETF (NIFE) seeks investment results, before fees and expenses, that correspond to the performance of the Indxx U.S. Fallen Knives Index, which targets U.S.-listed companies that have experienced significant recent share price declines but maintain strong financial health metrics such as profitability, balance sheet strength, and cash flow generation; the fund holds a portfolio of approximately 50 mid-cap blend equities across diversified sectors including health technology, technology services, electronic technology, and producer manufacturing, with top holdings concentrated in names like SRPT and GO, and net assets of around $2-3 million prior to closure. Launched in June 2020 by Direxion Shares ETF Trust, sponsored and managed by Rafferty Asset Management, LLC, the ETF operated primarily in the U.S. equity market, targeting investors seeking alpha from potential price rebounds in "fallen knives" stocks via a rules-based, multi-factor strategy weighted by market capitalization. Headquartered in New York, Direxion, founded in 1997, provides a broad range of leveraged, inverse, and thematic ETFs. In August 2022, Direxion announced the closure and liquidation of NIFE, along with six other underperforming ETFs including TENG, CLDS, RWVG, RWGV, LOPX, and WWOW, due to insufficient assets under management; trading ceased on September 23, 2022, with final liquidation and pro-rata cash distributions to remaining shareholders completed by September 30, 2022. Although some financial platforms listed residual quote data post-liquidation, the ETF no longer accepts investments or trades actively on the NYSE Arca.