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Asset Summary

Daily Performance Report for DRN ETF: Nov 6, 2024

Summary: The day started with DRN ETF opening at $12.5 and closing at $11.42. The ETF showed weakness throughout the day, with the highest price observed at $13.25 and the lowest at $11.04. The underlying asset had a trading range of $2.21 Overall, it was a negative trading day for DRN ETF, reflecting investor pessimism and market activity.

Change in Closing Price: There was a net decrease of $-1.08 or -8.64% in the closing price from the opening to the closing price over the day.

Volume Analysis: Trading volume for DRN ETF was 2,391,540 units during Nov 6, 2024, indicating active market participation and investor interest.

Opening Price: The day started at $12.5.

Highest Price: The highest price observed during the day was $13.25.

Lowest Price: The lowest price observed during the day was $11.04.

Closing Price: The day ended at $11.42.

Asset Performance Metrics and Risk Characteristics:

Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.

Asset Technical Analysis

Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. By using various technical indicators and chart patterns, investors can gain insights into market trends, price momentum, and potential turning points. This section delves into essential technical metrics, including moving averages, pivot points, and other indicators that provide a snapshot of an asset's current technical stance. Analyzing these indicators helps investors identify entry and exit points, assess market sentiment, and refine their trading strategies. Explore the following technical analysis data to understand the asset's performance dynamics and make better-informed decisions.

Moving Averages

Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:

  • SMA (Simple Moving Average): Reflects the average price over a specific number of periods.
  • EMA (Exponential Moving Average): Gives more weight to recent prices, making it more responsive to new information.
  • WMA (Weighted Moving Average): Assigns a weight to each price, emphasizing more recent prices.
  • WEMA (Weighted Exponential Moving Average): Combines elements of both WMA and EMA for a more responsive moving average.

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Frequently Asked Questions

The liquidity of DRN is measured by its trading volume and bid-ask spread. Higher trading volumes generally indicate better liquidity, resulting in narrower spreads and lower trading costs.

DRN’s portfolio is rebalanced daily to maintain its 3x leverage ratio. The ETF adjusts its holdings to reflect changes in the MSCI US IMI Real Estate 25/50 Index and to achieve the targeted leverage.

DRN aims to provide 3x the daily performance of the MSCI US IMI Real Estate 25/50 Index. Due to leverage, the performance of DRN can diverge significantly over longer periods from 3x the index’s return.

DRN is managed by Direxion and utilizes leverage to achieve three times the daily return of the MSCI US IMI Real Estate 25/50 Index. The ETF is rebalanced daily to maintain this 3x leverage ratio.

DRN can be purchased through brokerage accounts like other ETFs. It is listed on major stock exchanges under the ticker symbol "DRN" and can be traded during market hours.

Similar ETFs include: DRV (Direxion Daily Real Estate Bear 3X Shares): Provides -3x daily performance of the MSCI US IMI Real Estate 25/50 Index. XHB (SPDR S&P Homebuilders ETF): Tracks the S&P Homebuilders Select Industry Index, focusing on homebuilding companies. IYR (iShares U.S. Real Estate ETF): Seeks to track the performance of the Dow Jones U.S. Real Estate Index.

DRN has an expense ratio of approximately 1.08%. This fee covers the cost of managing the ETF, including leverage and associated trading expenses.

While DRN can be held in retirement accounts such as IRAs or 401(k)s, its leveraged nature makes it more suitable for short-term trading rather than long-term retirement investing.

Historical performance data for DRN includes daily returns, NAV, and tracking accuracy relative to 3x the MSCI US IMI Real Estate 25/50 Index. Investors should review performance reports for detailed historical data.

Factors include the volatility of the MSCI US IMI Real Estate 25/50 Index, market conditions, the impact of leverage, and daily rebalancing. Performance may deviate from 3x the index’s daily return due to these factors.

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