Complete List of 38 ETP Closures for 2011
U.S. exchange traded product delistings and closures totaled 38 in 2011, consisting of 32 ETFs and six ETNs. The all-time death toll now stands at 211 (192 ETFs and 19 ETNs). Delistings dropped 22% from the 49 closures of 2010 and marked a third straight year of decline since the surge in 2008. Closures...
BSCB: Not Your Typical ETF Closure
Today (December 29, 2011) is the last day of trading for the Guggenheim BulletShares 2011 Corporate Bond ETF (BSCB). In what is believed to be the most timely liquidation and payment to shareholders, the fund’s final distribution will be payable tomorrow. The delisting, liquidation, closure, and...
Three IndexIQ ETFs To Disappear Today
Today (12/23/2011) is the last day of trading for IQ Taiwan Small Cap ETF (TWON), IQ Hong Kong Small Cap ETF (HKK), and IQ Japan Mid Cap ETF (RSUN). According to the press release (pdf), shareholders who do not sell their holdings by today will have their shares automatically redeemed on December 30,...
Last Day For CRBA and CRBI
Jefferies | TR/J CRB Global Agriculture Equity Index Fund (CRBA) and Jefferies | TR/J CRB Global Industrial Metals Equity Index Fund (CRBI) were launched in October 2009 and will be delisted after today (December 22, 2011). Investors should sell their shares immediately to avoid any potential pitfalls...
Termination of 17 HOLDRS Marks End of an Era
HOLDRS first arrived on the scene in September 1999, with Internet HOLDRS (HHH) becoming the 31st ETF listed for trading on a U.S. stock exchange. Merrill Lynch, the sponsor, now acknowledges the antiquated structure of HOLDRS, and all seventeen products will be terminated this week. The closures...
FLYX Fails to Fly
Today (10/10/11) is the last day of trading for Direxion Airline Shares (FLYX). I questioned the viability of this fund at the time of its December 2010 launch. Being a non-leveraged ETF, the offering was out of character for Direxion. Additionally, it targeted a niche containing an existing product,...
Active ETFs Continue to Struggle: PQZ and PQY Close
The two oldest actively-managed ETFs are no longer with us. September 30, 2011 marked the last day of trading for PowerShares Active Alpha Multi-Cap (PQZ) and PowerShares Active AlphaQ (PQY). Both were launched on April 11, 2008. Their demise clearly illustrates the obstacles facing all actively-managed...
Javelin Shutters Last JETS ETF
Javelin closes its last remaining fund, yet remains open for business. September 29, 2011 was the last day of trading for the JETS Contrarian Opportunities Index Fund (JCO). The ongoing viability of JCO was called into question more than a year ago when the firm announced the impending closure of...
IVO Terminates and IVOP Fills the Void
Another exchange-traded product met its demise this week. The iPath Inverse S&P 500 VIX Short-Term Futures ETN (IVO) triggered an early termination on September 12 when shares traded below $10. Barclays immediately called the notes for redemption at $11.8024 per share. They were then delisted...
Last FaithShares ETF Closes
After shuttering four ETFs in July, the last remaining FaithShares ETF has now suffered a similar fate. FaithShares Christian Value Fund (FOC) saw its last day of trading on August 31, 2011. All outstanding shares will be redeemed on September 14. All of the FaithShares funds were consistent members...
