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ONG - Daily Oil Services Bull 2X ETF Direxion


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The Direxion Daily Oil Services Bull 2X Shares (ONG) is an exchange-traded fund that seeks to provide leveraged exposure to the performance of the Dow Jones U.S. Oil Equipment & Services Index. The ONG ETF is designed to provide investors with twice the daily performance of the index, which includes companies that provide drilling services, equipment, and other services to the oil and gas industry. Here's an extended company report for the Direxion Daily Oil Services Bull 2X Shares ETF:

The Direxion Daily Oil Services Bull 2X Shares ETF was launched in 2011 by Direxion, a leading provider of leveraged and inverse ETFs. The ETF seeks to provide investors with leveraged exposure to the performance of the Dow Jones U.S. Oil Equipment & Services Index by seeking to provide twice the daily performance of the index.

The ONG ETF is designed to provide investors with a cost-effective way to gain leveraged exposure to the oil and gas industry. The ETF has a low expense ratio of 0.95%, which is significantly lower than the average expense ratio for similar actively managed mutual funds. The ETF is also highly liquid, with an average daily trading volume of over 200,000 shares.

As of March 18, 2023, the Direxion Daily Oil Services Bull 2X Shares ETF had a net asset value of approximately $50 million, making it a relatively small ETF in the oil and gas industry. The ETF's holdings are heavily weighted towards companies that provide drilling services, equipment, and other services to the oil and gas industry, including top holdings like Schlumberger Limited, Halliburton Company, and Baker Hughes Company.

Investing in the Direxion Daily Oil Services Bull 2X Shares ETF involves significant risks, including the risk that the ETF's performance may be affected by changes in market conditions, regulatory changes, and other factors that may impact the oil and gas industry. The ETF is also subject to leverage risk, which means that its returns may be more volatile than the returns of similar non-leveraged ETFs.

In conclusion, the Direxion Daily Oil Services Bull 2X Shares ETF seeks to provide investors with leveraged exposure to the performance of the Dow Jones U.S. Oil Equipment & Services Index by seeking to provide twice the daily performance of the index. The ETF is cost-effective, highly liquid, and heavily weighted towards companies that provide drilling services, equipment, and other services to the oil and gas industry. Investors should carefully consider the risks and potential benefits of investing in the Direxion Daily Oil Services Bull 2X Shares ETF before making any investment



 

 
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