Direxion to Liquidate and Close Three ETFs by July 2024

Due to their inability to attract sufficient investment assets, the Board of Trustees of the Direxion Shares ETF Trust has decided to liquidate and close three ETFs. Based on the recommendation of the Funds' adviser, Rafferty Asset Management, LLC, the Board concluded that liquidating and closing the funds would be in the best interest of the funds and their shareholders. The funds closing are the Direxion Hydrogen ETF (HJEN), Direxion Moonshot Innovators ETF (MOON), and Direxion Daily Global Clean Energy Bull 2X Shares (KLNE).

The funds will cease trading on the NYSE Arca, Inc. and will be closed to purchases by investors as of the close of regular trading on the NYSE on July 19, 2024. After this date, the funds will not accept purchase orders. Shareholders have the option to sell their holdings in a fund prior to the closing date, though customary brokerage charges may apply. From July 19, 2024, through July 30, 2024, shareholders may only be able to sell their shares to certain broker-dealers, with no assurance of a market for the fund's shares during this period.

From June 21, 2024, until the liquidation date of July 30, 2024, each fund will be in the process of closing down and liquidating its portfolio. This process will lead to an increase in cash holdings for each fund, causing them not to track their underlying index, which is inconsistent with the funds' investment objectives and strategies.

On or about the liquidation date, each fund will liquidate its assets and distribute cash pro rata to all shareholders who have not redeemed or sold their shares. These distributions are taxable events and may include accrued capital gains and dividends. The net asset value of each fund, as calculated on the liquidation date, will reflect the costs of closing the fund. Once distributions are complete, the funds will terminate.

Direxion is known for equipping investors with ETF solutions built for purpose and precision, catering to a broad spectrum of investors. With approximately $42.3 billion in assets under management as of March 31, 2024, the company has built a reputation for developing products that allow investors to manage their risk exposure effectively. For more information, visit www.direxion.com.

Investors should note that there is no guarantee that the funds will achieve their investment objectives. Leveraged and inverse ETFs pursue daily leveraged investment objectives, making them riskier than alternatives not using leverage. These ETFs seek daily goals and should not be expected to track the underlying index over periods longer than one day. Such funds are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk and actively manage their investments.

It is important for investors to carefully consider a fund's investment objective, risks, charges, and expenses before investing. A fund’s prospectus and summary prospectus contain this and other information about the Direxion Shares. To obtain a prospectus and summary prospectus, visit https://www.direxion.com/. Reading the prospectus carefully before investing is crucial.

The ETFs involve risks, including the possible loss of principal. They are non-diversified and include risks associated with concentration in particular industries or sectors, increasing volatility. Leveraged and inverse ETFs utilize derivatives, such as futures contracts and swaps, subject to market risks that may cause price fluctuations. These ETFs do not attempt to, and should not be expected to, provide returns that are multiples of the return of their respective index for periods longer than a single day. They may also be subject to leverage, correlation, daily compounding, market volatility, and industry-specific risks.

Foreside Fund Services, LLC, is the distributor of Direxion Shares.

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