# EDGAR Filing Document

**Accession Number:** 0001424958
**File Stem:** 0001193125-23-012078
**Filing Date:** 2023-1
**Character Count:** 5137
**Document Hash:** da8568a83036e68f95bd64c3c261d2db
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-012078.hdr.sgml**: 20230120

**ACCESSION NUMBER**: 0001193125-23-012078

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230120

**DATE AS OF CHANGE**: 20230120

**EFFECTIVENESS DATE**: 20230120

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Direxion Shares ETF Trust
- **CENTRAL INDEX KEY:** 0001424958
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-150525
- **FILM NUMBER:** 23541511

**BUSINESS ADDRESS:**
- **STREET 1:** 1301 AVENUE OF THE AMERICAS (6TH AVENUE)
- **STREET 2:** 28TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 646-572-3390

**MAIL ADDRESS:**
- **STREET 1:** 1301 AVENUE OF THE AMERICAS (6TH AVENUE)
- **STREET 2:** 28TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Direxion ETF Trust
- **DATE OF NAME CHANGE:** 20080124

## Series and Classes Contracts Data

### Direxion Daily Select Large Caps & FANGs Bull 2X Shares (Series ID: S000071020)

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|  |  |  |
|:---|:---|:---|
| Class Name                                              | Ticker Symbol | Class ID   |
| Direxion Daily Select Large Caps & FANGs Bull 2X Shares | FNGG          | C000225449 |

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## Series and Classes Contracts Data

### Direxion Daily Select Large Caps & FANGs Bull 2X Shares (Series ID: S000071020)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000225449 | Direxion Daily Select Large Caps & FANGs Bull 2X Shares | FNGG            |

**DIREXION SHARES ETF TRUST**

**Direxion Daily Select Large Caps & FANGs Bull 2X Shares (FNGG)**

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**Supplement dated January 20, 2023 to the** <br> **Summary Prospectus, Prospectus, and Statement of Additional Information ("SAI")** <br>**dated February 28, 2022, as last supplemented**

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After the close of the markets on February 10, 2023, the Direxion Daily Select Large Caps & FANGs Bull 2X Shares (the "Fund"), will affect a reverse split of its issued and outstanding shares as follows:

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| | | |
|:---|:---|:---|
| **Fund Name** | **Reverse Split Ratio** | **Approximate decrease**<br> **in total number of**<br> **outstanding shares**<br>|
| Direxion Daily Select Large Caps & FANGs Bull 2X Shares | 1 for 10 | 90% |

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As a result of the reverse split, every ten shares of the Fund will be exchanged for one share as indicated in the table above. Accordingly, the total number of the issued and outstanding shares for the Fund will decrease by the approximate percentage indicated above. In addition, the per share net asset value ("NAV") and next day's opening market price will be approximately ten-times higher for the Fund. Shares of the Fund will begin trading on the NYSE Arca, Inc. (the "NYSE Arca") on a split-adjusted basis February 13, 2023.

The next day's opening market value of the Fund's issued and outstanding shares, and thus a shareholder's investment value, will not be affected by the reverse split. The table below illustrates the effect of a hypothetical one-for-ten reverse split anticipated for the Fund as described above:

**1-for-10 Reverse Split** 

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| | | | |
|:---|:---|:---|:---|
| **Period** | **# of Shares Owned** | **Hypothetical NAV** | **Total Market Value** |
| Pre-Split | 100 | $10  | $1000 |
| Post-Split | 10 | $100 | $1000 |

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The Direxion Shares ETF Trust's transfer agent will notify the Depository Trust Company ("DTC") of the reverse split and instruct DTC to adjust each shareholder's investment(s) accordingly. DTC is the registered owner of the Fund's shares and maintains a record of the Fund's record owners.

**Redemption of Fractional Shares and Tax Consequences of the Reverse Split** <br>As a result of the reverse split, a shareholder of the Fund's shares potentially could hold a fractional share. However, fractional shares cannot trade on the NYSE Arca. Thus, the Fund will redeem for cash a shareholder's fractional shares at the Fund's split-adjusted NAV after the close of the markets on February 10, 2023. Such redemption may have tax implications for those shareholders and a shareholder could recognize a gain or loss in connection with the redemption of the shareholder's fractional shares. Otherwise, the reverse split will not result in a taxable transaction for holders of Fund shares. No transaction fee will be imposed on shareholders for such redemption.

"**Odd Lot" Unit** <br>Also as a result of the reverse split, the Fund may have outstanding one aggregation of less than 50,000 shares to make a creation unit, or an "odd lot unit." Thus, the Fund will provide one authorized participant with a one-time opportunity to redeem the odd lot unit at the split-adjusted NAV or the NAV on such date the authorized participant seeks to redeem the odd lot unit.

\* \* \* \* \*

**Please retain a copy of this Supplement with your Summary Prospectus, Prospectus, and SAI.**

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