Direxion Daily Oil Services Bull 2X Shares
ONG
New York Stock Exchange Arca- -
USD
- -
- -
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
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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
- DE United States of America
- IPO Date
- Jan 20, 2022
- CIK
- 0001424958
- Similar Companies
- Business
- Direxion Daily Oil Services Bull 2X Shares (ONG) is an exchange-traded fund that seeks daily investment results, before fees and expenses, equal to 200% of the daily performance of the MVIS US Listed Oil Services 25 Index, a market cap-weighted index comprising 25 of the largest U.S.-listed oil services companies that provide equipment and services to the oil industry, including growth and value stocks across diversified market caps. The fund offers leveraged exposure to this energy sector benchmark, targeting sophisticated traders seeking amplified short-term returns from oil services providers such as drilling contractors, equipment manufacturers, and oilfield service firms listed on U.S. exchanges. Managed by Direxion, headquartered in New York and founded in 1997 as part of Rafferty Asset Management, ONG trades on NYSE Arca with assets under management of approximately $5.82 million to $8.77 million and a net expense ratio of 1.07%. ONG provides a single core product: daily 2x leveraged bullish exposure to the MVIS US Listed Oil Services 25 Index; it does not offer inverse or unleveraged variants under this ticker, focusing exclusively on amplified upside participation in oil services equities for tactical trading. The underlying index includes companies engaged in upstream oil services like seismic data acquisition, drilling rigs, well completion, and production enhancement, with top holdings typically representing nearly 100% of the fund's concentrated portfolio of around 6 to 9 securities. Launched on January 20, 2022, the fund ceased active operations and went out of business as of April 27, 2023, amid challenging market conditions for leveraged energy products, marking a significant wind-down in its lifecycle. In the lead-up to closure, Direxion parent continued expanding its leveraged ETF suite, including recent 2024 launches of single-stock ETFs on Berkshire Hathaway (BRKU/BRKD) and Palantir (PLTU/PLTD), as well as a September 2025 suite of Titans Leveraged & Inverse ETFs targeting top U.S. sector leaders. No recent partnerships, funding rounds, or product expansions specific to ONG were reported prior to its termination, with the issuer shifting focus to new thematic and single-stock leveraged strategies.