As of October 27, 2015, Direxion Shares ETF Trust - Direxion Daily Basic Materials Bull 3X Shares has gone out of business. Direxion Shares ETF Trust - Direxion Daily Basic Materials Bull 3X Shares is an exchange traded fund launched by Direxion Investments. The fund is managed by Rafferty Asset Management, LLC. It invests in the public equity markets of the United States. The fund takes long positions to invest directly and indirectly through exchange traded funds and derivatives like futures contracts, options, swap agreements, and forward contracts in stocks of companies operating in the materials sector including chemicals, metals and mining, paper and forest products, containers and packaging, and construction materials. It invests in stocks of large-cap companies. The fund also invests some portion of its portfolio in money market funds or short-term debt instruments. It seeks to track thrice the daily performance of the Materials Select Sector Index. Direxion Shares ETF Trust - Direxion Daily Basic Materials Bull 3X Shares was formed on June 15, 2011 and is domiciled in the United States.