As of October 2, 2017, Direxion Shares ETF Trust - Direxion Daily MSCI European Financials Bear 1X Shares has gone out of business. Direxion Shares ETF Trust - Direxion Daily MSCI European Financials Bear 1X Shares is an exchange traded fund launched by Direxion Investments. The fund is managed by Rafferty Asset Management, LLC. It invests in public equity markets of developed countries of Europe. The fund takes short positions to invest through other exchange traded funds and through derivatives like futures contracts and swap agreements in stocks of companies operating in the financials sector. It invests in stocks of large-cap and mid-cap companies. The fund also invests in some portion of its portfolio in money market funds or short-term debt instruments that have terms-to-maturity of less than 397 days. It seeks to track the inverse of the daily performance of the MSCI Europe Financials Index. The fund was formerly known as Direxion Shares ETF Trust - Direxion Daily European Financials Bear 1X Shares. Direxion Shares ETF Trust - Direxion Daily MSCI European Financials Bear 1X Shares was formed on August 10, 2016 and is domiciled in the United States.