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August 31, 2020 at 09:30 AM
The new Direxion Connected Consumer ETF (CCON) started trading on the NYSE Arca Tuesday with a net expense ratio of 0.45%.
The exchange-traded fund provides exposure to companies “across four technology pillars — home entertainment, online education, remote health and well-being, and virtual and digital social interaction” — exposing investors to “those companies that stand to benefit from consumers connecting to products and services in new ways, especially virtual ones,” according to Direxion.
CCON tracks the Solactive Connected Consumer Index, comprised of 40 equally weighted U.S. listed securities and American depositary receipts of such companies, Direxion said.
The new ETF follows the Direxion Work From Home ETF that the company launched June 25.
T. Rowe Price Changes Long-Term Fund’s Strategy
T. Rowe Price plans to make several changes to its long-term Treasury fund, including a shift from an active to passive strategy and lower expense ratio, the company disclosed in an SEC filing.
The fund’s board of directors “approved changes to the fund’s name, investment objective, fee structure, and overall investment program, which includes changing to an index strategy that tracks the returns of its current benchmark index,” according to the filing.
