ProShares has added UltraPro Financials ETF (FINU) and UltraPro Short Financials ETF (FINZ) to their lineup.

Eric Dutram, from Zacks, reports that these funds will target the financial market with a 3x and -3x leverage over a single day. Both of these new offerings will track the Dow Jones U.S. Financials Index and will charge 95 basis points annually for fees.

Direxion, ProShares' main rival, already has the Daily Financial Bull 3x Shares and Daily Financial Bear 3x Shares, which have been popular 3x/-3x financial ETFs in the market. 

Edited by: HFD


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