The Obama presidency took a turn towards increased government intervention in the private sector last week when the president stepped up his campaign against Wall Street and announced a far-reaching proposal for tougher regulation of the country’s biggest banks. Backed by former Federal Reserve Chairman Paul Volcker, Obama put forth a plan designed to limit speculative activities by commercial banks and prevent financial institutions from becoming “too big to fail.” [click to continue…]
It’s been quite a week for the folks at ETF Securities (ETFS), one of the preeminent ETF sponsors in Europe that recently made the long jump across the pond to enter into the U.S. market. Last Friday ETFS launched its Silver Trust (SIVR), a bullion-backed trust that is expected to compete directly with iShares’ SLV, and the company rang the bell on the NYSE on Tuesday. Most new ETPs struggle to gain their footing coming out of the gate, but SIVR has had no problems establishing sufficient liquidity right from the get-go. [click to continue…]
Over the last two years, equity markets have cratered, volatility has skyrocketed, and retirement portfolios have been crushed under the weight of a global recession and seemingly unending uncertainty. But over this period, the ETF industry has enjoyed astonishing success, attracting billions of dollars away from traditional mutual funds and redefining the business of long-term [...]
First Trust Advisors L.P., the manager of a popular line of more than 35 ETFs, has announced that its newest fund, the NASDAQ ABA Community Bank Index Fund, will begin trading on the NASDAQ exchange on July 1. The new ETF will trade under the ticker QABA and have an expense ratio of 0.60%. The index [...]
