New Funds Track Clear Mid-Cap Growth and IndexIQ Active Value Small Cap Indexes
The American Stock Exchange® (Amex®) announced on April 26th that it has launched trading in the Claymore/Clear Mid Cap Growth Index ETF (Symbol: MCG) and the Claymore/Index IQ Small-Cap Value ETF (Symbol: SCV) by Claymore Securities, Inc. (Claymore). Claymore now offers investors 20 different ETFs, all of which are listed on the Amex.
MCG seeks to track the performance of, before fees and expenses, of the Clear Mid-Cap Growth Index. The Clear Mid-Cap Growth Index is comprised of U.S. common stocks and ADRs of companies that have mid-sized market capitalizations and growth characteristics as defined by Clear Indexes LLC. Market capitalizations typically range between $2 billion and $10 billion.
SCV seeks to track the performance, before fees and expenses, of an equity index called the IndexIQ Active Value Small Cap Index. The Active Value Index is comprised of approximately 100 stocks selected, based on investment and other criteria, from a broad universe of U.S. listed common stocks. The universe of companies includes approximately 1,200 listed companies that have a small-market capitalization ranging from $400 million to $1.5 billion as defined by IndexIQ, Inc.
"The Amex looks forward to a long and collaborative relationship with Claymore as we continue to provide the investment community with a variety of innovative products,"Â said Scott Ebner, Senior Vice President, Amex ETF Marketplace. "The introduction of MCG and SCV provides investors with another way to gain exposure in the small and mid-cap universe."Â
Goldman Sachs Execution & Clearing, LP is the specialist for SCV and Kellogg Capital Group, LLC is the specialist for MCG. -http://www.amex.com/
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