SpaceX ETF Race Heats Up, Direxion Among First To Roll Out 2X Bull Fund

Direxion has launched the Direxion Daily SpaceX Bull 2X ETF (LOFF), becoming one of the first single-stock ETFs designed to provide leveraged exposure to SpaceX, or Space Exploration Technologies Corp (NASDAQ:SPCX), following the aerospace giant’s blockbuster public market debut on Friday.

The ETF began trading one business day after SpaceX did, in what Direxion described as the largest initial public offering in market history. The new fund seeks daily investment results, before fees and expenses, equal to 200% of the daily performance of SpaceX shares, giving traders a leveraged vehicle to express short-term bullish views on the company.

Key Features Of LOFF

Objective: Seeks 200% of the daily performance of SpaceX, before fees and expenses

Structure: Single-stock leveraged ETF

Underlying Stock: SpaceX (NASDAQ:SPCX)

Related Product: Joins Direxion’s single-stock lineup alongside the Direxion Daily TSLA Bull 2X ETF

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SpaceX ETF Race Heats Up, Direxion Among First To Roll Out 2X Bull Fund

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