Direxion Nanotechnology ETF
TYNE
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- IPO Date
- Nov 22, 2021
- CIK
- 0001424958
- Similar Companies
- Business
- Direxion Nanotechnology ETF (TYNE) is a non-leveraged exchange-traded fund that provides targeted exposure to U.S.-listed companies at the forefront of nanotechnology across sectors including consumer discretionary, health care, industrials, information technology, and materials. The ETF tracks the S&P Kensho Extended Nanotechnology Index, which focuses on firms involved in the creation or manipulation of matter at the molecular or smaller level through four core categories of products and services: fabrication and manufacturing processes such as nano-bots and molecular self-assembly; measurement and simulation tools including nanoelectromechanical systems; specialized materials like nano-textiles and nanoparticles; and delivery systems encompassing engineered nanoparticles and nano-capsules. Constituents, selected from common equity securities and depository receipts meeting minimum float-adjusted market capitalization of $100 million and three-month average daily turnover of at least $1 million, receive optimized weighting that overweights core nanotechnology participants while capping the aggregate weight of holdings above 4.5% at 45% of the index; the index undergoes annual reconstitution in May, semi-annual rebalancing in November, and quarterly reweighting in February and August. Launched in November 2021 by Direxion Shares ETF Trust, managed by Rafferty Asset Management, LLC, with an expense ratio of 0.65%, TYNE targeted institutional and retail investors seeking thematic exposure to nanotechnology innovation in applications spanning agriculture, biotech, defense, energy, and semiconductors. Direxion, founded in 1997 and headquartered in New York with additional offices in Boston and Hong Kong, specializes in leveraged, inverse, and thematic ETFs managing approximately $48 billion in assets as of late 2024. In a significant operational change, Direxion announced the liquidation and closure of TYNE in January 2023 due to insufficient assets under management, with trading ceasing on February 17, 2023, and final distributions to remaining shareholders on or about February 24, 2023; this decision affected three other underperforming ETFs alongside TYNE. No major partnerships, acquisitions, funding rounds, or new product launches specific to TYNE occurred in the 1-2 years prior to its closure, though Direxion continued broader expansions such as new single-stock leveraged ETFs in 2024-2025 and partnerships like the 2024 Solactive collaboration for AI-themed funds. The ETF previously featured top holdings including Beam Therapeutics, Nano Dimension, and Moderna, reflecting its focus on biotechnology and advanced manufacturing leaders.