Direxion Opens Leveraged, Inverse ETFs for AI Stocks (1)

Professional investors with a bullish or bearish conviction on artificial-intelligence stocks and looking to magnify their profits with leverage can now do so with two new exchange-traded funds.

The Direxion Daily AI and Big Data Bull 2X Shares ETF seeks to achieve 200% of the daily returns from its benchmark, the Solactive US AI & Big Data Index. The bear equivalent of this fund seeks to garner 200% in the opposite direction of the gauge’s move. The funds are designed to reflect only single-day moves and won’t seek to accumulate gains over time.

The craze for AI stocks has been ...