Stocks started off in a hole on Monday as investors fretted over the March employment report, however, pessimism faded throughout the week as earnings euphoria brought back the bulls. The product development front was a bit quiet this week as Van Eck was the only issuer to beef up its lineup with a new high yield bond ETF; First Trust also laid down the groundwork for a hedge fund ETF and newcomer Pyxis is planning to debut its first actively-managed offering [see Free Report: How To Pick The Right ETF Every Time].
- First Trust Hedge Fund Manager Holdings Index Fund: This ETF will seek to replicate the price and yield performance of the Wells Fargo Hedge Fund Manager Holdings Index. The underlying index is designed to measure the performance of the 100 largest positions in equities and equity-related securities that are held by hedge funds according to quarterly SEC filings [see Cheapskate Hedge Fund ETFdb Portfolio]. The basket of holdings may consist of common stock, equity options, closed-end funds, convertible debt, as well as ETFs.
Disclosure: No positions at time of writing.
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