Bearish China ETF fades in a year
By Bloomberg | China Daily | Updated: 2016-08-29 07:43
As growth outlook brightens, assets of Direxion shrink to $90m from $403m in August 2015
A year ago, an exchange-traded fund called Direxion was designed to profit from declines in Chinese stocks. It proved to be a standout when it was created. Now, however, Direxion is languishing. For, China's growth outlook has improved.
Total assets in the ETF surged 101 times to $403 million from June to August 2015 as traders piled in to take advantage of a market selloff.
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