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Products June 11, 2010
Claymore Launches another Shipping ETF
June 11, 2010 (PLANSPONSOR.com) - Claymore Securities Inc. has launched the Claymore Shipping ETF (NYSE Arca: SEA).
Reported by Rebecca Moore
According to a press release, the fund seeks to replicate the performance, before fees and expenses, of the Delta Global Shipping Index (Index Ticker: DGAGSI) which was developed and is maintained by Delta Global Indices LLC, a wholly-owned subsidiary of Delta Global Advisors Inc.
The Delta Global Shipping Index includes companies that derive at least 80% of their revenues from operating or leasing ships or from the transportation of goods via ship. Index constituents must have at least $250 million in market capitalization and a 30-day average daily trading volume of at least $2 million.
Claymore said it expects the new fund to replace its previous shipping ETF as the largest, most actively traded U.S.-listed shipping ETF. “Because our first shipping ETF was so popular with investors and advisers, the successor fund largely mirrors its structure and seeks to track the performance of the same index,” said William Belden, Managing Director, Claymore Securities, Inc., in the press release.
More information is at http://www.claymore.com/SEA.