Direxion has decided to close and liquidate eight ETFs on April 21, 2023. ETFs include: Direxion Breakfast Commodities Strategy ETF, Direxion mRNA ETF, Direxion Daily Oil Services Bull 2X Shares, Direxion Daily Metal Miners Bull 2X Shares ...

NEW YORK - April 03, 2023 - Due to their inability to attract sufficient investment assets, the Board of Trustees of the Direxion Shares ETF Trust has decided to liquidate and close eight ETFs (each, a "Fund" and collectively, the "Funds"), based on the recommendation of the Funds' adviser, Rafferty Asset Management, LLC. As a result, the Board concluded that liquidating and closing the Funds would be in the best interest of the Funds and their shareholders. The Funds closing are as follows:

Fund Ticker CUSIP Direxion Breakfast Commodities Strategy ETF BRKY 25460G237
Direxion mRNA ETF MSGR 25460G427
Direxion Daily TIPS Bull 2X Shares TIPL 25460G310
Direxion Daily TIPS Bear 2X Shares TIPD 25460G294

Direxion Daily S&P 500 Equal Weight Bull 2X Shares EVEN 25460G369
Direxion Daily Oil Services Bull 2X Shares ONG 25460G435
Direxion Daily Software Bull 2X Shares SWAR 25460G476
Direxion Daily Metal Miners Bull 2X Shares MNM 25460G468

The Funds will cease trading on the NYSE Arca, Inc. ("NYSE") and will be closed to purchase by investors as of the close of regular trading on the NYSE on April 21, 2023 (the "Closing Date"). The Funds will not accept purchase orders after the Closing Date.

Shareholders may sell their holdings in a Fund prior to the Closing Date and customary brokerage charges may apply to these transactions. However, from April 21, 2023 through April 27, 2023 (the "Liquidation Date") shareholders may only be able to sell their shares to certain broker-dealers and there is no assurance that there will be a market for a Fund's shares during this time period. Between the Closing Date and the Liquidation Date, each Fund will be in the process of closing down and liquidating its portfolio. This process will result in a Fund increasing its cash holdings and, as a consequence, not tracking its underlying index, which is inconsistent with each Fund's investment objective and strategy.

On or about the Liquidation Date, each Fund will liquidate its assets and distribute cash pro rata to all shareholders who have not previously redeemed or sold their shares. These distributions are taxable events. In addition, these payments to shareholders may include accrued capital gains and dividends. As calculated on the Liquidation Date, each Fund's net asset value will reflect the costs of closing the Fund. Once the distributions are complete, the Funds will terminate.

About Direxion:

Direxion equips investors who are driven by conviction with ETF solutions built for purpose and fine-tuned for precision. These solutions are available for a broad spectrum of investors, whether executing short-term tactical trades, or investing in thematic strategies. Direxion's reputation is founded on developing products that precisely express market perspectives and allow investors to manage their risk exposure. Founded in 1997, the company has approximately $27.5 billion in assets under management as of March 31, 2023. For more information, please visit www.direxion.com.