IndexIQ, creator of the first hedge fund replication ETFs, plans to close three of its international equity ETFs by year end. The three funds have combined assets of about $5 million, or about 1% of Index IQ’s total assets.
Friday, Dec. 31 will be the last day of trading for the IQ Taiwan Small Cap ETF (TWON), IQ Hong Kong Small Cap ETF (HKK) and the IQ Japan Mid Cap ETF (RSUN). All three funds were less than a year old.
Shareholders who don’t sell their shares by Friday will have their shares automatically redeemed on Dec. 30. Shareholders who don’t sell by this date will not incur transaction fees in connection with the liquidation. Index IQ will pay all the costs.
Elsewhere in ETFLand:
WisdomTree ETFs declare quarterly distributions. The Dividend ex-Financials Fund (DTN) tops the list with an actual payout of 47 cents per share. LargeCap Dividend (DLN) and Asia Pacific ex-Japan (AXJL) show and place with 39 cents and 38.4 cents, respectively. Equity Income (DHS) follows closely with 38.0 cents. Most International funds don’t post dividends this quarter.
Financial Times says in 2011 British ETF investors flocked to fixed income and strategies that provide insurance should equities take a dive. Emerging market ETFs holding either stocks or bonds saw a lot of inflows as did gold mining stock ETFs, such as Market Vectors Gold Miners (GDX).
Posted in Business, Dividends, ETFs, Index IQ, Stock Market, stocks, Wall Street
Tagged AXJL, DHS, DLN, DTN, GDX, HKK, IQ Hong Kong Small Cap ETF, IQ Taiwan Small Cap ETF, Market Vectors Gold Miners, Q Japan Mid Cap ETF, RSUN, TWON, WIsdomTree Asia Pacific ex-Japan, WisdomTree Dividend ex-Financials Fund, WisdomTree Equity Income, WisdomTree LargeCap Dividend
Fresco passed along this little tidbit reported by StreetInsider.com. David Einhorn’s Greenlight Capital hedge fund issued its 13F for the quarter ended 3/31/09. Fearing inflation, Greenlight boosted its exposure to gold through two ETFs. The fund bought 514,000 shares of SPDR Gold Shares (GLD) to raise its stake to 4.2 million shares. StreetInsider says this is Greenlight’s biggest position and valued at $385 million. The fund maintains its stake of 3.2 million shares in Market Vectors Gold Miners ETF (GDX). For a full report on Greenlight’s stock holdings check out StreetInsider.com.
Inflation has to go up, no? I mean really, it can’t get much lower. Gold is considered a classic hedge against inflation, so if people anticipate inflation rising significantly, gold is a good place to be.
The Wall Street Journal says GLD is seeing the largest money flows for buying on weakness. Today, GLD is down $1.39, or 1.5% to $90.17.
Posted in Business, Commodities, ETFs, Exchanges, State Street, Stock Market, stocks, Wall Street
Tagged David Einhorn, GDX, GLD, gold, Greenlight Capital, Market Vectors Gold Miners ETF, SPDR Gold Shares, StreetInsider.com, WSJ