EVAV a 2X leveraged EFT of EV Stocks Pullback LongEVAV in the past six weeks rose about 90% and then faded 5% in a correction
or pullback. This may be a buying opportunity. Price is heading down into the
area of the two mean VWAP lines where I will look for a bounce. Professiona
traders like to buy in the area of VWAP and so I expect high tra
Direxion Shares ETF Trust Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares
No trades
Key stats
About Direxion Shares ETF Trust Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares
Home page
Inception date
Aug 11, 2022
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Rafferty Asset Management LLC
Distributor
Foreside Fund Services LLC
EVAV provides daily 2x exposure to an index of companies in the autonomous electric vehicles industry. The fund will comprise those that derive at least 50% of their revenue from engagements in specified sub-themes, such as manufacturers, enablers, and software and technology developers. Besides liquidity and tradability requirements, eligible securities must be listed on a US exchange, and have a market-cap of at least 500 million USD. The largest 25 pure-play companies will comprise the index, with quasi-play firms completing the roster if few pure-plays qualify. Selected constituents will then be assigned a weighting in accordance with their 6-month average daily value traded, with individual capping at 8%. The index is rebalanced quarterly and reconstituted annually. As a leveraged product with 2x factor that resets daily, EVAV is not a buy-and-hold investment and should not be expected to provide index leverage return greater than a one day period.
Classification
What's in the fund
Exposure type
Consumer Durables
Producer Manufacturing
Cash
Stock breakdown by region
Top 10 holdings
Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.