MIC seeks to deliver 200% of the daily performance of Micron Technology, Inc. (NASDAQ: MU), through derivatives such as swap agreements and exchange-traded equity futures to create leveraged exposure. Micron Technology, Inc. engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU), Mobile Business Unit (MBU), Embedded Business Unit (EBU), and Storage Business Unit (SBU). The portfolio is rebalanced at the end of each trading day to maintain its targeted leverage level, meaning returns over periods longer than a single day can differ significantly from two times the cumulative return of MU due to compounding effects. Collateral supporting these derivative positions may be invested in money market instruments, repurchase agreements, or short-term US government securities.


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