Direxion [profile] is on a tear.

The firm unveiled earlier this week a long-short global currency fund.

Now, it has launched two ETFs covering global miners.

The first ETF, the Direxion Daily Junior Gold Miners Index Bull 3X Shares (JNUG), will follow the Market Vectors Junior Gold Miners Index, aiming for three times the index's performance. Meanwhile, the Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST) will aim to achieve three times the performance of the inverse of that index.

Here is the press release:

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Company Press Release,/i>

New Products Enable Both Bull and Bear Investors to Seek to Capitalize on Equity Performance of Domestic and International Junior Gold-Mining Companies

  Direxion, a leader in alternative investment solutions, has launched two leveraged exchange-traded funds (ETFs) tracking the global equity performance of junior gold-mining companies.

The Direxion Daily Junior Gold Miners Index Bull 3X Shares (JNUG) seeks to achieve daily investment results, before fees and expenses, of 300 percent of the performance of the Market Vectors™ Junior Gold Miners Index. The Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST) seeks daily investment results, before fees and expenses, of 300 percent of the inverse of the performance of the Market Vectors Junior Gold Miners Index.

  The index is a market-capitalization-weighted total return index. It covers the largest and most liquid small-cap companies that derive at least 50 percent of their revenue from gold or silver mining, or have properties that do so. The composite includes companies based in the U.S. and other markets, including Australia, Canada and Singapore. As of Sept. 15, 2013, the index had average and median market capitalizations of $362.46 million and $294.74 million, respectively.

  “At a time when a growing number of investors are expressing interest in exposure to companies engaged in the exploration and production of gold, we are offering liquid exposure to this sector with the benefit of added leverage,” said Eric Falkeis, President of Direxion. “These two Funds are designed for traders that wish to take a bullish or bearish stance on the gold-mining industry.”

The Direxion Daily Junior Gold Miners Index Bull 3X Shares (JNUG) seeks to achieve daily investment results, before fees and expenses, of 300 percent of the performance of the Market Vectors™ Junior Gold Miners Index. The Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST) seeks daily investment results, before fees and expenses, of 300 percent of the inverse of the performance of the Market Vectors Junior Gold Miners Index.

  The index is a market-capitalization-weighted total return index. It covers the largest and most liquid small-cap companies that derive at least 50 percent of their revenue from gold or silver mining, or have properties that do so. The composite includes companies based in the U.S. and other markets, including Australia, Canada and Singapore. As of Sept. 15, 2013, the index had average and median market capitalizations of $362.46 million and $294.74 million, respectively.

  “At a time when a growing number of investors are expressing interest in exposure to companies engaged in the exploration and production of gold, we are offering liquid exposure to this sector with the benefit of added leverage,” said Eric Falkeis, President of Direxion. “These two Funds are designed for traders that wish to take a bullish or bearish stance on the gold-mining industry.”

 

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