SPY Turns 20

The SPDR S&P 500 ETF (SPY) is twenty years old today.  It became the very first U.S. listed exchange traded fund (“ETF”) on January 29, 1993.  About a million shares changed hands that first day, with SPY closing at $43.94.  SPY was designed to have a price...

First Four ETP Closures of 2013

An early termination of a Barclays ETN and the orderly shutdown of three Direxion ETFs mark the first closures of 2013.  These four ETPs were all members of ETF Deathwatch, and therefore their closures should not come as a surprise to anyone.  After a record setting...