Leveraged Single-Stock ETFs Join List of Plans Withdrawn (1)

Wall Street’s dash into single-stock exchange traded funds is slowing to a jog.

Less than a week after two issuers pulled applications for dozens of funds tracking individual foreign companies, another firm is backing out of plans for single-stock ETFs offering leveraged exposure on major US companies.

Direxion requested to withdraw eight funds it had filed with the Securities and Exchange Commission, according to documents unveiled Thursday. Those funds were meant to deliver two times the daily inverse performance of megacap technology stocks, including Tesla Inc., Apple Inc and Amazon.com Inc.

The fund company already has 10 single-stock ETFs ...