ETFs & Funds
Home›ETFs & Funds›ETFs›Direxion’s SpaceX bull ETF targets 200% of daily stock…
Direxion’s SpaceX bull ETF targets 200% of daily stock gains
The Direxion Daily SpaceX Bull 2X ETF, launched in June after the SpaceX IPO, seeks 200% of daily returns and leans on an AI thesis tied to SpaceX technology efforts.
ETF Trends says Direxion’s Daily SpaceX Bull 2X ETF, which trades under the ticker LOFF, is built to aim for 200% of the daily returns of Space Exploration Technologies (SPCX), whose shares are up 3.3% over the past month.
The outlet notes LOFF debuted in June soon after the SpaceX initial public offering, positioning the fund for traders focused on the company’s rocket and satellite business along with an AI-related investment thesis.
ETF Trends also points to SpaceX’s AI efforts and the newly minted Grok Bot as an item for traders to watch, citing Deutsche Bank analyst Edison Yu.
Yu said Grok Bot is still early but drew positive user feedback after its release last month, with weekly users reportedly at 418,000 as of Sep 14, and he described it as a tool within a broader Grok and Cursor ecosystem aimed at enterprise functions.