The last two weeks have seen two separate announcements of ETF closures, with Claymore and Grail both making plans to shutter funds that have failed to catch on with investors. Claymore will close four equity funds that maintained aggregate assets of about $35 million (IRO, CRO, EXB, and ROB) while Grail is closing the doors on two actively-managed funds that each maintained about $3 million in assets. So far in 2010, about 30 ETFs have been closed; WisdomTree gave 10 funds the ax in February and Rydex pulled the plug on most of its leveraged ETF lineup in April. [click to continue…]
Another eventful week has passed us by, leaving investors with plenty to chew on as they try and figure out hectic markets. The week started off with the closing of four ETFs, as Claymore‘s said goodbye to IRO, CRO, EXB, and ROB as the four failed to attract any meaningful amount of assets [see Four [...]
Claymore, the ETF issuer known for its suite of targeted sector funds and China ETFs, has announced that September 10 will be the last day of trading for four of its exchange-traded funds. The ETFs to be shuttered include:
Over the past two years, the financial sector has seen more than its fair share of ups and downs. After being pushed to the brink of complete collapse after the Lehman Brothers bankruptcy, financials recovered to reclaim big chunks of the ground lost and finish 2009 as one of the year’s best performers. The financial [...]
The much maligned financial industry has definitely seen its share of ups and downs over the past two years, as a mortgage meltdown, bailouts, Congressional hearings, and rage from Main Street have battered an industry that once seemed indestructible. Despite the ill will towards Goldman Sachs, many financial firms have put this dark period behind [...]
After generally impressive earnings reports sent markets higher for much of the last week, Friday’s shocking allegations against Goldman Sachs ensured that the week ended on a down note. The SEC filed fraud charges against the Wall Street giant on Friday, alleging that the firm failed to make important disclosures surrounding a subprime mortgage product [...]
Since the global equity markets bottomed out in March 2009, the financial sector has been one of the top-performing corners of the U.S. economy. After being hammered as fears of a financial meltdown spread through Wall Street, big banks have recovered to strengthen their balance sheets, begin reporting profits once again, and even pay back [...]
Over the past year, the financial sector has been a favorite target of criticisms, frequently accused of outrageous greed that sparked the mortgage meltdown in the U.S., eventually spreading to nearly all corners of the global economy. Moreover, the volatility of financial companies has skyrocketed, perhaps best evidenced by the fact that Direxion’s 3x leveraged Daily [...]
