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08:13PM (15 mins delay)
Jun 30, 2009 - 3:45 PM EDT
Tom Lydon (ETF Trends) submits: ProFunds Group has launched two new ETFs that up the ante on the S&P 500 times three, making them the next triple leverage provider to enter the popular space. This launch comes at a time when the scrutiny on leveraged funds is tight.
The provider has launched their first triple-leveraged ETFs, tracking the the S&P 500 Index. These ETFs, which triple the performance of the S&P 500 in both directions, are also the first triple leverage funds to track the benchmark index, notes John Spence for MarketWatch. Both ETFs are meant to be tracked on a daily basis and are not meant for long-term buy-and-hold investing:
Source: Seeking Alpha (Jun 30, 2009 - 3:45 PM EDT)
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