24/7 Wall St.
10-07-2008, 10:20 AM
24/7 Wall St. Daily News
http://www.247wallst.com/images/2008/10/07/focusshares_logo.png (http://247wallstreet.typepad.com/.shared/image.html?/photos/uncategorized/2008/10/07/focusshares_logo.png) Another ETF group with esoteric index funds is closing down and liquidating several ETF programs. FocusShares, LLC has announced that its board and its advisors have determined to discontinue and liquidate several exchange-traded funds.
The following ETF's are being liquidated:
FocusShares ISE Homebuilders Index Fund (NYSE: SAW);
FocusShares ISE SINdex Fund (NYSE: PUF);
FocusShares ISE-CCM Homeland Security Index Fund (NYSE: MYP);
FocusShares ISE-Revere Wal-Mart Supplier Index Fund (NYSE: WSI). The last trading day is listed as October 17, 2008 on the NYSE Arca in the ETF's. NYSE Arca will halt trading in the shares of the Funds before the open on October 20, 2008 and shares will be permanently gone after that.
This is actually of very little surprise. We listed that Wal-Mart (NYSE: WMT) Supplier Index ETF as an example of ETF's gone wild. There are many trading days where that ETF does not even trade.
http://www.247wallst.com/2007/11/etfs-gone-wild.html
ETF's are great tools and great investment vehicles when they are properly matched to liquid index levels or to liquid baskets. But the more esoteric they become, the less liquid (and perhaps the less successful).
Jon C. Ogg
October 7, 2008
http://feeds.feedburner.com/~f/typepad/RyNm?i=6VW4M</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=6VW4M) http://feeds.feedburner.com/~f/typepad/RyNm?i=Ui36M</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=Ui36M) http://feeds.feedburner.com/~f/typepad/RyNm?i=Jua3m</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=Jua3m)
complete story here... (http://www.247wallst.com/2008/10/more-etfs-bite.html)
http://www.247wallst.com/images/2008/10/07/focusshares_logo.png (http://247wallstreet.typepad.com/.shared/image.html?/photos/uncategorized/2008/10/07/focusshares_logo.png) Another ETF group with esoteric index funds is closing down and liquidating several ETF programs. FocusShares, LLC has announced that its board and its advisors have determined to discontinue and liquidate several exchange-traded funds.
The following ETF's are being liquidated:
FocusShares ISE Homebuilders Index Fund (NYSE: SAW);
FocusShares ISE SINdex Fund (NYSE: PUF);
FocusShares ISE-CCM Homeland Security Index Fund (NYSE: MYP);
FocusShares ISE-Revere Wal-Mart Supplier Index Fund (NYSE: WSI). The last trading day is listed as October 17, 2008 on the NYSE Arca in the ETF's. NYSE Arca will halt trading in the shares of the Funds before the open on October 20, 2008 and shares will be permanently gone after that.
This is actually of very little surprise. We listed that Wal-Mart (NYSE: WMT) Supplier Index ETF as an example of ETF's gone wild. There are many trading days where that ETF does not even trade.
http://www.247wallst.com/2007/11/etfs-gone-wild.html
ETF's are great tools and great investment vehicles when they are properly matched to liquid index levels or to liquid baskets. But the more esoteric they become, the less liquid (and perhaps the less successful).
Jon C. Ogg
October 7, 2008
http://feeds.feedburner.com/~f/typepad/RyNm?i=6VW4M</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=6VW4M) http://feeds.feedburner.com/~f/typepad/RyNm?i=Ui36M</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=Ui36M) http://feeds.feedburner.com/~f/typepad/RyNm?i=Jua3m</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=Jua3m)
complete story here... (http://www.247wallst.com/2008/10/more-etfs-bite.html)