NYSE Euronext (NYX) today announced that Claymore Exchange-Traded Fund Trust listed the Claymore/Raymond James SB-1 Equity ETF on NYSE Arca. This is the first-ever NYSE-listed Closed-End Fund (CEF) to convert into an ETF and then list on NYSE Arca. The Claymore/Raymond James SB-1 Equity ETF joins NYSE Arca under the ticker symbol “RYJ”.
As an industry leader in ETF and ETN listings and trading, exchange traded products listed on NYSE Arca represent 55% of ETF and ETN assets under management in the U.S. , nearly $591 billion, the most of any exchange.
Background about the Claymore/Raymond James SB-1 Equity ETF (NYSE Arca: RYJ)
The Claymore/Raymond James SB-1 Equity ETF (the “Fund”), using a low cost "passive" or "indexing" investment approach, seeks to replicate, before fees and expenses, the performance of the Raymond James SB-1 Equity Index. The Raymond James SB-1 Equity Index is composed of all equity securities rated Strong Buy 1 ("SB-1") by Raymond James & Associates, Inc., an affiliate of Raymond James Research Services, LLC, the Index provider. Index constituents include equity securities of all market capitalizations, as defined by the Index Provider, that trade on a U.S. securities exchange, including common stocks, American depository receipts (ADRs), real-estate investment trusts (REITs) and master limited partnerships (MLPs).
Under normal conditions, the fund will invest at least 80% of its assets in equity securities. The fund will also normally invest at least 80% of its total assets in securities that comprise the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of the component securities that comprise the Index. The fund has adopted a policy that requires the fund to provide shareholders with at least 60 days notice prior to any material change in this policy or the Index. -- www.nyse.com
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