Direxion Daily Junior Gold Miners Index Bull 2X Shares (JNUG)

[jboatswain]

https://www.sec.gov/Archives/edgar/data/1424958/000119312515085297/d889157d485apos.htm#pro889157_13

That section shows how authorized participants/market makers can create JNUG units. This is similar to SPY, where market makers create and redeem, and make a little profit in arbitrage.