Direxion Daily Communication Services Index Bull 3X Shares
TAWK
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
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 - Leveraged
- Address
- United States of America
- IPO Date
- Jan 14, 2019
- CIK
- 0001424958
- Similar Companies
- Business
- Direxion Daily Communication Services Index Bull 3X Shares (TAWK) seeks daily investment results, before fees and expenses, of 300% of the daily performance of the Communication Services Select Sector Index, a float-adjusted market capitalization-weighted index of domestic large-cap securities engaged in the communication services sector; the fund utilizes financial instruments including swap agreements, securities of the index, exchange-traded funds that track the index, and money market instruments to achieve its leveraged investment objective. Issued by Direxion Shares ETF Trust and managed by Rafferty Asset Management, LLC, TAWK provides leveraged exposure to communications companies such as diversified telecommunication services providers, wireless telecommunication services firms, media conglomerates, entertainment content producers, and interactive media and services operators, with approximately 27 holdings where the top 10 positions typically comprise over 77% of assets. The fund targets sophisticated traders and investors seeking amplified short-term bullish positions in the U.S. communications sector. Direxion, founded in 1997 and headquartered in New York, New York, operates as a provider of leveraged and inverse exchange-traded funds across various sectors, with approximately $17 billion in assets under management as of mid-2020; TAWK was launched in alignment with the 2018 Global Industry Classification Standard update that established the Communication Services sector. The ETF trades on the NYSE Arca exchange and focuses exclusively on U.S. large-cap equities within its benchmark index. In a significant operational change announced on September 18, 2020, Direxion liquidated TAWK along with its bear counterpart (MUTE) and seven other underperforming ETFs due to insufficient assets under management, rendering continued operations economically inefficient; trading ceased on October 16, 2020, with final liquidations and pro-rata cash distributions to remaining shareholders completed by October 23, 2020. No subsequent relaunches, partnerships, acquisitions, or strategic shifts involving TAWK have been reported. Post-liquidation, the ETF is listed as inactive in major financial databases, though legacy price quotes may appear on select platforms.