ETF Trends
04-05-2008, 02:27 PM
ETF Trends - Keeping a Grip on Exchange Traded Funds (ETFs)
http://www.etftrends.com/images/2008/04/04/coal.jpg (http://etftrends.typepad.com/photos/uncategorized/2008/04/04/coal.jpg) News of an acquisition of one coal company by another could be having a positive impact on the coal exchange traded fund (ETF).
Patriot Coal (PCX (http://finance.yahoo.com/q?s=pcx)) announced its plans on Wednesday to acquire its rival, Magnum Coal, for $709 million, reports Christopher Barker for the Motley Fool (http://www.fool.com/investing/general/2008/04/04/investors-pledge-allegiance-to-patriot-coal.aspx). Patriot is a holding of Market Vectors Coal (KOL (http://finance.yahoo.com/q?s=kol)) and is 1.1% of the assets. The company was created as a spinoff of Peabody Energy (BTU (http://finance.yahoo.com/q?s=btu)), which is 7.2% of KOL.
With this acquisition, Patriot will pick up 12 coal mines and seven preparation plants and gain leverage to negotiate some lower transportation costs. It also makes them the second-largest coal producer in the United States, led by Arch Coal (ACI (http://finance.yahoo.com/q?s=aci)), which is 5.3% of KOL.
The fund is up 4.8% in midday trading, and since its Jan. 15 launch, it's down 2.4%.
http://www.etftrends.com/images/2008/04/04/kol.png (http://etftrends.typepad.com/photos/uncategorized/2008/04/04/kol.png)
Complete story here... (http://feeds.feedburner.com/~r/etftrends-feed/~3/264183970/coal-etf-fires.html)
http://www.etftrends.com/images/2008/04/04/coal.jpg (http://etftrends.typepad.com/photos/uncategorized/2008/04/04/coal.jpg) News of an acquisition of one coal company by another could be having a positive impact on the coal exchange traded fund (ETF).
Patriot Coal (PCX (http://finance.yahoo.com/q?s=pcx)) announced its plans on Wednesday to acquire its rival, Magnum Coal, for $709 million, reports Christopher Barker for the Motley Fool (http://www.fool.com/investing/general/2008/04/04/investors-pledge-allegiance-to-patriot-coal.aspx). Patriot is a holding of Market Vectors Coal (KOL (http://finance.yahoo.com/q?s=kol)) and is 1.1% of the assets. The company was created as a spinoff of Peabody Energy (BTU (http://finance.yahoo.com/q?s=btu)), which is 7.2% of KOL.
With this acquisition, Patriot will pick up 12 coal mines and seven preparation plants and gain leverage to negotiate some lower transportation costs. It also makes them the second-largest coal producer in the United States, led by Arch Coal (ACI (http://finance.yahoo.com/q?s=aci)), which is 5.3% of KOL.
The fund is up 4.8% in midday trading, and since its Jan. 15 launch, it's down 2.4%.
http://www.etftrends.com/images/2008/04/04/kol.png (http://etftrends.typepad.com/photos/uncategorized/2008/04/04/kol.png)
Complete story here... (http://feeds.feedburner.com/~r/etftrends-feed/~3/264183970/coal-etf-fires.html)