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Direxion launches MU defined income ETF tied to Micron options
The Direxion MU Defined Income Boost ETF, which debuted in late July, targets twice-monthly distributions and a 20% annual distribution yield.
Micron Technology reported another round of blowout quarterly results, but the stock logged a modest weekly loss even as market expectations centered on an earnings beat and raised guidance, according to ETF Trends.
For investors seeking income while holding Micron exposure, ETF Trends highlights the Direxion MU Defined Income Boost ETF, which debuted in late July and is part of a seven-ETF suite focused on single-stock exposure.
The fund uses a risk-managed options strategy and aims to make distributions twice monthly, and ETF Trends says it is currently living up to that goal.
ETF Trends adds that the ETF is targeting a 20% annual distribution yield, positioning it as a fit for income investors who want Micron exposure without relying on the stock’s dividend.