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What is the Direxion daily S&P 500 bull 3x shares ETF?

This survey of widely-traded exchange-traded funds ("ETFs") with holdings of derivatives to cause their market price to move by 2x or 3x the price moves of their underlier index has its primary focus on the Direxion Daily S&P 500 Bull 3x Shares ETF (NYSEARCA: SPXL ).

Why did the S&P 500 spy go up?

The SPY Consolidates Ahead Of Key Inflation Data - Direxion Daily S&P 500 Bull 3X Shares (ARCA:SPXL), SPDR S&P 500 (ARCA:SPY) The SPDR S&P 500 SPY was inching slightly higher Wednesday, continuing to consolidate Monday's 1.43% surge, which was driven by consumer inflation expectations hitting a 2-year low.

What are leveraged 3x ETFs?

Leveraged 3X ETFs are funds that track a wide variety of asset classes, such as stocks, bonds and commodity futures, and apply leverage in order to gain three times the daily or monthly return of the respective underlying index. Such ETFs come in the long and short varieties.

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