Rafferty Asset Management Closing Three ETFs

NEW YORK, Aug. 31, 2018 /PRNewswire/ -- The Board of Trustees of the Direxion Shares ETF Trust ("the Board") has decided to liquidate and close the Direxion Daily Silver Miners Index Bull 2X Shares and Direxion Daily Emerging Markets Bond Bull 3X Shares, ("the Funds") based on the recommendation of Rafferty Asset Management, LLC, the Funds' investment advisor. In addition, the Board has also decided to liquidate and close the PortfolioPlus Total Bond Market ETF ("the Fund") based on the recommendation of Direxion Advisors, LLC, the Fund's investment adviser.

The Funds will cease trading on the NYSE Arca, Inc. ("NYSE") and will be closed to purchase by investors as of the close of regular trading on the NYSE on September 24, 2018 (the "Closing Date").  The Funds will not accept purchase orders after the Closing Date.

Due to the Funds' inability to attract sufficient investment assets, Rafferty believes they cannot continue to  operate the Funds in an economically efficient manner. As a result, the Board concluded that liquidating and closing the Funds would be in the best interest of the Funds and their shareholders.

Shareholders may sell their holdings in the Fund prior to the Closing Date and customary brokerage charges may apply to these transactions. However, from September 24, 2018 through October 1, 2018 (the "Liquidation Date") shareholders may only be able to sell their shares to certain broker-dealers and there is no assurance that there will be a market for a Fund's shares during this time period. Between the Closing Date and the Liquidation Date, the Funds will be in the process of closing down and liquidating its portfolio. This process will result in the Funds increasing their cash holdings and, as a consequence, not tracking its underlying index, which may not be consistent with each Fund's investment objective and strategy.

On or about the Liquidation Date, the Funds will liquidate its assets and distribute cash pro rata to all remaining shareholders who have not previously redeemed or exchanged their shares.  These distributions are taxable events. In addition, these payments to shareholders will include accrued capital gains and dividends, if any. As calculated on the Liquidation Date, each Fund's net asset value will reflect the costs of closing the Fund. Once the distributions are complete, the Funds will terminate.

About Direxion:

Direxion builds bold products for investors who want more than the status quo. Our index-based products deliver directional options, magnified exposure, and long-term, rules-based strategies. Founded in 1997, the company has approximately $14 billion in assets under management as of June 30, 2018. Direxion's diverse suite of products helps investors navigate today's ever-changing markets. For more information, please visit www.direxioninvestments.com.

There is no guarantee that the Funds will achieve their investment objectives.

For more information on all Direxion Shares daily leveraged ETFs, go to direxioninvestments.com, or call us at 866.476.7523.

For more information on how Portfolio+ ETFs can help your clients' portfolios work harder, call 833-547-4417, or visit portfolioplustetfs.com.

An investor should consider the investment objectives, risks, charges, and expenses of Direxion ETFs and PortfolioPlus ETFs carefully before investing. The prospectus and summary prospectus contains this and other information about the ETFs. Download a prospectus and summary prospectus at direxioninvestments.com, or portfolioplusetfs.com.  The prospectus and summary prospectus should be read carefully before investing.

Direxion Shares Risks – An investment in each Fund involves risk, including the possible loss of principal. Each Fund is non-diversified and includes risks associated with the Fund concentrating its investments in a particular industry, sector, or geographic region which can result in increased volatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. Each Fund does not attempt to, and should not be expected to, provide returns which are two or three times the performance of its underlying index for periods other than a single day. Risks of each Fund include Effects of Compounding and Market Volatility Risk, Leverage Risk, Counterparty Risk, Intra-Day Investment Risk, Daily Inverse Index Correlation/Tracking Risk Other Investment Companies (including ETFs) Risk, for the Direxion Daily Silver Miners Index Bull 2X Shares, risks specic to investment in the Silver Mining Industry, such as Emerging Markets Risk, Mining and Metal Industry Risk, Silver-Related Companies Risk, and Canadian Securities Risk, and for the Direxion Daily Emerging Markets Bond Bull 3X Shares, risks specic to investment in debt instruments and lower-quality debt securities, including Credit Risk, Extension Risk, Prepayment Risk and Interest Rate Risk, and risks specic to investment in the securities of emerging and frontier markets, and non-U.S. agency bonds. Please see the summary and full prospectuses for a more complete description of these and other risks of the Funds.

PortfolioPlus ETF Risks – An investment in the Fund involves risk, including the possible loss of principal. The Fund is non-diversified and includes risks associated with the Fund concentrating its investments in a particular industry, sector, or geographic region which can result in increased volatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. Risks of the PortfolioPlus Total Bond Market ETF include Effects of Compounding and Market Volatility Risk, Leverage Risk, Counterparty Risk, Intra-Day Investment Risk, Daily Index Correlation/ Tracking Risk, and risks specific to investment in securities, such as asset-backed and mortgage-backed securities, debt instruments and U.S. government securities, that comprise the U.S. Bond Market, including Interest Rate Risk. Rising interest rates tend to be more impactful on fixedincome securities with longer-term durations. Please see the summary and full prospectuses for a more complete description of these and other risks of the Fund.

Distributor: Foreside Fund Services, LLC.

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SOURCE Rafferty