Direxion Daily 5G Communications Bull 2X Shares
TENG
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- Direxion Daily 5G Communications Bull 2X Shares (TENG) is a leveraged exchange-traded fund (ETF) that seeks daily investment results, before fees and expenses, equal to 200% of the daily performance of the BlueStar 5G Communications Index. The fund invests at least 80% of its net assets in financial instruments, including swap agreements, securities of other ETFs, and exchange-traded products, that provide leveraged exposure to the index, which tracks U.S.-listed equity securities of companies whose products and services are economically tied to 5G networking and communication technologies. Core holdings emphasize semiconductors and semiconductor equipment (approximately 31%), communications equipment (21%), diversified telecommunication services (12%), and equity REITs (9%); top constituents include Marvell Technology, NXP Semiconductors, American Tower, and T-Mobile. Launched on September 6, 2021, by Direxion Shares ETF Trust, a series of Rafferty Asset Management, LLC, the ETF targeted sophisticated investors comfortable with high leverage risk, market volatility, and sector-specific exposures in information technology and communication services. TENG traded on the NYSE Arca exchange until its liquidation and closure in September 2022, with the final trading day on September 23, 2022, after which shareholders received cash distributions of approximately $14.25 per share. No significant partnerships, acquisitions, funding rounds, or new product launches specific to TENG occurred in the last 1-2 years prior to its delisting, though Direxion continued expanding its broader lineup of leveraged and inverse ETFs, including the Titans suite in October 2025 targeting top companies in key U.S. sectors. Direxion, founded in 1997 and headquartered in New York City with additional offices in Boston and Hong Kong, operates globally and specializes in non-traditional leveraged and inverse ETFs for active traders across various market conditions. The firm serves institutional and retail investors focused on short-term tactical strategies in equity sectors, without notable subsidiaries or parent relationships tied directly to TENG. Post-delisting, TENG no longer trades actively, reflecting Direxion's ongoing portfolio adjustments amid evolving market demands for leveraged products.