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 the JETS Islamic ETF (former ticker JVS).
According the firm’s home page, any remaining shareholders will have their shares automatically redeemed on October 11.
“With many investors looking for new investing tools, we believe that contrarian and other investment styles will eventually be well represented in the ETF market,” says Javelin president and founder Brint Frith, “we look forward to building on our experience.”
Javelin did not elaborate as to whether “building on our experience” would involve the launch of new JETS funds or if the firm was just going to try capitalize on its existing SEC exemptive relief.
Disclosure covering writer, editor, and publisher: No positions in any of the securities mentioned. No positions in any of the companies or ETF sponsors mentioned. No income, revenue, or other compensation (either directly or indirectly) received from, or on behalf of, any of the companies or ETF sponsors mentioned.