Direxion Daily Financial Bull 3X Shares (the Fund), formerly Direxion Financial Bull 3X Shares, seeks daily investment results of 300% of the price performance of the Russell 1000 Financial Services Index (the Financial Index). The Financial Index is a capitalization-weighted index of companies that provide financial services. The Fund creates long positions by investing at least 80% of its net assets in the equity securities that comprise the Financial Index. The Fund will also invest in financial instruments that, in combination, provide leveraged and unleveraged exposure to the Financial Index. The Fund’s investment advisor is Rafferty Asset Management LLC.