EMER Becomes 96th ETP Closure of 2012
As reported in November ETF Stats, December 18 was the last day of trading for the IQ Emerging Markets Mid Cap ETF (EMER). Anyone still owning EMER will have their shares automatically redeemed on December 28, 2012. According to the press release, IndexIQ will absorb all costs of closing the fund. ...
WisdomTree Closing 3 ETFs in December
WisdomTree (WETF) recently announced its intent to close three of its ETFs. Two of the closures are actively managed currency funds, while the third tracks an earnings weighted index of large cap growth stocks. The funds will remain open for about six more weeks, with the last day of trading scheduled...
QuantShares Closing 3 Market Neutral ETFs
FFCM, the advisor to the QuantShares family of ETFs, announced the termination and liquidation of three of its funds. The last day of trading will be Friday, November 2, 2012. To avoid any surprises, I advise shareholders to dispose of their holdings prior to the delisting, use a limit order, and...
ETP Closures Hit 300
ETP closure activity this week pushed the lifetime death toll to 300 and the year-to-date count to 89. Early October action from iPath, Russell, and Global X resulted in 30 delistings so far this month. If a tree falls in the forest and no one is there to hear it, does it still make a sound? If an...
Global X Closing 4 Struggling ETFs
Global X recently announced its intent to close and liquidate four ETFs. According to the company press release, Global X will absorb all fees and expenses that may be incurred in connection with the liquidation and distribution of assets. I advise shareholders to dispose of their holdings, using...
RTSA: Another Day, Another iPath Early Termination
Yesterday (9/13/12) was the last day of trading for two Barclays iPath ETNs, and just as they were about to wind down, the iPath Short Extended Russell 2000 TR Index ETN (RTSA) hit its early termination trigger. RTSA will be delisted after the close of trading on September 19 and redeemed the following...
SFSA and ROSA Hit Early Termination Trigger
Two Barclays iPath ETN products triggered their early automatic termination and redemption features on September 7, 2012. The defining moments occurred when the intraday indicative note values of iPath Short Extended S&P 500 TR Index ETN (SFSA) and iPath Short Extended Russell 1000 TR Index ETN...
UBS Closing a Dozen VIX ETRACS ETNs
UBS announced the impending redemption (pdf) of a dozen ETRACS exchange traded notes (“ETNs”) linked to the performance of various VIX futures. The final value will be determined at today’s (9/7/12) market close. However, the products in question will continue to be listed and traded until...
Russell Makes Strategic Retreat From Index ETF Biz
Russell Investments announced on August 17 the mass closure of 25 ETFs with combined assets exceeding $300 million. The only survivor will be Russell Equity ETF (ONEF), which also happens to be the only actively-managed ETF on the menu. The decision looks to us like a strategic move to refocus...
Direxion Closing Nine Leveraged and Inverse ETFs
DirexionShares announced this month it will close nine of its 3x leveraged ETFs. The affected funds target domestic sectors as well as certain emerging markets. Their shares will be de-listed from NYSE Arca as of the close on September 5, 2012, with the liquidation process to be completed a week...
