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Dow Jones Industrial Average Component Companies Increase Expected Annual Dividend Distribution by 8.40% From a Year Ago
Survey by Dow Jones Indexes Also Indicates Expected Annual Dividend Distribution From DJIA's 30 Stocks to Rise 2.18% From Previous Quarter
DJIA Components' Dividends Represent 37% of Total U.S. Stock Market Payouts
Dividend Data Provides Insight Into Outlook of Bellwether U.S. Corporations, Dow Jones Indexes Says
April 23, 2012--The Dow Jones Industrial Average's 30 component companies are expected to increase their annual dividend payout by 8.40% year-over-year and 2.18% from the previous quarter,
according to a first-quarter 2012 survey by Dow Jones Indexes.
DJIA component companies' $107 billion expected dividend distribution for the 12 months beginning April 1, 2012, represents 37% of all indicated annual dividends (IAD) by U.S. companies as measured by the Dow Jones U.S. Index, a gauge that accounts for roughly 95% of the U.S. equity market. (IAD is a forward-looking measure defined as a company's most recently paid quarterly dividend multiplied by four.)
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Source: Dow Jones Indexes
Exchange Traded Concepts Partners with Horizons Exchange Traded Funds on Covered Call ETF Series
Established Canadian ETF Provider Opts for U.S. Debut with Exchange Traded Concepts
April 23, 2012--Exchange Traded Concepts, LLC (ETC), in conjunction with Horizons Exchange Traded Funds Inc. (Horizons ETFs), has filed a registration statement with the Securities and Exchange Commission to issue three covered call exchange traded funds (ETFs) in the United States.
This new series of Horizons’ ETFs represents the latest endeavor by ETC to help a third-party investment manager bring ETFs to market quickly and cost-effectively. The Horizons ETFs group has been an active sponsor of ETFs in Canada, with more than 80 ETFs listed on the Toronto Stock Exchange and CAD$3.3 billion in assets under management. ETC, a U.S. private-label ETF advisor, will serve as manager and investment adviser to the ETFs. Mirae Asset Global Investments (USA) LLC, the sub-adviser to the ETFs, and Horizons ETFs are both subsidiaries of Mirae Asset Global Investments Co., Ltd.
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Source: Exchange Traded Concepts
AdvisorShares Announces Global Echo ETF Launch Date
AdvisorShares and Philippe Cousteau Jr. Partner to Launch the First Multi-Manager Active ETF Focused on Sustainable Investment Themes
April 23, 2012--On April 19, 2012 AdvisorShares, a leading sponsor of actively managed Exchange Traded Funds (ETFs), announced today that the Global Echo ETF (NYSE: GIVE) will open for trading on Thursday, May 24, 2012.
GIVE is a broadly diversified multi-manager ETF with a focus on Sustainable Investment themes, that seeks to achieve long-term capital appreciation with an emphasis on absolute (positive) returns and low sensitivity to a blend of traditional financial market indices such as the S&P 500 Index, over a full market cycle. GIVE has four portfolio managers allocating to different investment strategies and asset classes:
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Source: Bizjournal
Alerian MLP ETF Reaches Milestone: Three Billion in Net Assets
April 23, 2012--The Alerian MLP ETF (master limited partnership exchange-traded fund) reached three billion in net assets on April 18, 2012.
The fund began trading on August 25, 2010.
“We have been tremendously pleased with the growth of the Alerian MLP ETF, the first ever ETF product focused on MLPs and after-tax yield.” said Kenny Feng,
President and CEO of Alerian. “We have enjoyed partnering with ALPS, a firm which possesses a strength in alternative investments as well as a specialized sales team knowledgeable in MLPs. We look forward to a continued partnership with ALPS and bringing more information and product access to the MLP asset class.”
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Source: Alerian MLP
FlexShares files with the SEC
April 23, 2012--FlexShares has filed a fourth and restated application for exemptive relief with the SEC.
view filing
Source: SEC.gov
Morgan Stalney-US ETF Weekly Update
April 23, 2012--US ETF Weekly Update
Weekly Flows: $669 Million Net Inflows
ETF Assets Stand at $1.2 Trillion, up 12% YTD
Two ETF Launches Last Week
ALPS Announces Closure of Commodity Equity ETF
US-Listed ETFs: Estimated Flows by Market Segment
After posting $6.3 bln in net outflows two weeks ago, ETFs generated net inflows of $669 mln last week
Last week’s net inflows, while small, were led by Fixed Income ETFs ($1.9 bln in net inflows)
ETF assets stand at $1.2 tln, up 12% YTD; ETFs have posted net inflows 13 out of 16 weeks YTD ($47.1 bln in net inflows)
13-week flows were mostly positive among asset classes; combined $25.2 bln net inflows
Fixed Income ETFs have consistently generated weekly net inflows (36 straight weeks of net inflows)
Over the past 13 weeks US Large-Cap ETFs have exhibited notable net outflows of $4.6 bln; however, in the category, the SPDR S&P 500 ETF (SPY) in particular accounted for $6.7 bln in net outflows over the 13-week period
US-Listed ETFs: Estimated Largest Flows by Individual ETF
Vanguard S&P 500 ETF (VOO) generated net inflows of $394 mln last week, the most of any ETF
US Equity and Fixed Income ETFs occupied the top 10 spots for largest net inflows last week
The technology-heavy PowerShares QQQ (QQQ) has posted net outflows for three consecutive weeks ($1.9 bln in net
outflows); notably, Apple Inc. is QQQ’s top holding (≈18%) and has pulled back meaningfully over the past two weeks
US-Listed ETFs: Short Interest Data Unchanged: Based on data as of 3/30/12
SPDR Dow Jones Industrial Average ETF (DIA) posted the largest increase in USD short interest
DIA’s shares short are at their highest levels since 12/15/11
For the second consecutive period, SPY had the largest decline in USD short interest
The average shares short/shares outstanding for ETFs is currently 5%
CurrencyShares Euro Trust (FXE) has seen its short interest ratio jump recently despite its shares short declining; the reason is
FXE’s shares outstanding dropped more than 50% from the prior period
Based on multiple borrowings and the ability to continuously create new shares, short interest as a % of market cap can exceed 100%
US-Listed ETFs: Most Successful Recent Launches by Assets
Source: Bloomberg, Morgan Stanley Smith Barney Research. Data estimated as of 4/20/12 based on daily change in share counts and daily NAVs.
$7.2 billion in total market cap of ETFs less than 1-year old
Over the past 13 weeks, newly launched Fixed Income ETFs generated most net inflows at $706 mln
85 new ETF listings and 16 closures YTD; 40 of the ETFs launched YTD were issued by iShares
Over the past year, many of the successful launches have an income/dividend orientation
Five different ETF sponsors and two asset classes represented in top 10 most successful launches
The highly anticipated PIMCO Total Return ETF (BOND) has eclipsed $500 mln in market cap in less than two months
Top 10 most successful launches account for 57% of market cap of ETFs launched over the past year
request report
Source: Morgan Stanley
US regulators look to ease swaps rules
April 23, 2012--US regulators are exploring ways to give large foreign banks and overseas subsidiaries of US lenders a reprieve from stringent new derivatives rules, potentially alleviating one of the biggest concerns facing global financial institutions.
The US Commodity Futures Trading Commission is looking to grant a temporary exemption to swap dealers that may fall under the jurisdiction of foreign financial authorities from complying with a host of post-financial crisis regulations governing derivatives transactions, people familiar with the matter said.
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Source: FT.com
Some volatility ETFs are 'disaster'
April 22, 2012--Some exchange-traded products linked to volatility are "a disaster", according to the co-creator of the Vix index, the principal measure of US stock market volatility.
Sandy Rattray, chief investment officer of Man Systematic Strategies, part of Man Group, the world’s second-largest hedge fund manager, said exchange-traded products that invest in volatility futures could be “catastrophically expensive” for investors.
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Source: FT.com
Merk Investments, LLC files with the SEC
April 20, 2012--Merk Gold Trust
has filed a FORM S-1, registration statement with the SEC for the Merk Gold Trust.
view filing
Source: SEC.gov
Exchange Traded Concepts files with the SEC
April 20, 2012--Exchange Traded Concepts has filed a post-effective amedment, registration statement with the SEC for the Yorkville High Income Composite MLP ETF | Ticker Symbol: YMLC
Yorkville High Income Infrastructure MLP ETF | Ticker Symbol: YMLI
view filing
Source: SEC.gov
