PortfolioPlus S&P Mid Cap ETF
PPMC
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
FRC
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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 - Leveraged
- Address
- IPO Date
- Feb 15, 2018
- CIK
- 0001424958
- Similar Companies
- Business
- PortfolioPlus S&P Mid Cap ETF (PPMC) seeks daily investment results, before fees and expenses, that correspond to 135% of the daily performance of the S&P MidCap 400 Index. The fund employs a combination of financial instruments, including swaps and futures contracts on the S&P MidCap 400 Index, along with direct investments in securities comprising the index, to achieve its leveraged exposure to mid-capitalization U.S. equities. PPMC targets sophisticated investors seeking amplified short-term returns from mid-cap stocks across various sectors, primarily in the United States market. Launched on February 15, 2018, by Direxion Shares ETF Trust under the management of Rafferty Asset Management, LLC (d/b/a Direxion Advisors), the ETF was headquartered in New York, New York, where Direxion, founded in 1997, maintains its primary operations. The fund provided leveraged access to approximately 400 mid-cap companies, focusing on investment-style blend characteristics with exposure to domestic U.S. public equity markets. In September 2020, PPMC ceased trading on September 25 and became defunct, with its final NAV reported around September 24, 2020, due to insufficient assets under management. This closure aligned with Direxion's strategic adjustments to its ETF lineup, including the discontinuation of other PortfolioPlus products like PPSC and PPDM, amid a shift toward single-stock leveraged and inverse ETFs. No significant partnerships, acquisitions, funding rounds, or new product launches were associated with PPMC in the 1-2 years prior to its closure; Direxion continued expanding its broader portfolio with new leveraged offerings post-2020, such as single-stock ETFs for Eli Lilly and Palo Alto Networks in March 2025.