Here is a link to the Prospectus for the Direxion Funds.
Keep in mind the funds rebalance daily and are only really intended for day and short-term trading. The prospectus says they are not suitable or intended for long holding periods. The funds will perform poorly when the markets are range bound. The funds will be at their best in steady directional trends.
Pages 4 and 7 will be helpful to look at in understanding that increasing market volatility will hurt the long-term performance of both funds (BGU, BGZ).
Pages 58 and 59 explain a bit about taxes and distributions and says that the fund will announce ahead of time the div date. However, I couldn't find one posted anywhere as of now.
If anyone finds the dates or when it is made available I will place the dates on the blog so that it is easily visible for everyone. Similar for the Proshares funds (SSO, SDS, etc). Please comment if you know the div dates.
Pete
