ETF Goes Through Ch-Ch-Changes
August 5th at 1:00am by Tom Lydon
When it comes to exchange traded funds (ETFs), what’s in a name, index and investment strategy?
We’ll soon find out. The Claymore/BBD High Income Index ETF (LVL) is officially changing its name as of Sept. 30, 2008. It will become the Claymore/S&P Global Dividend Opportunities Index ETF, and will change the index it tracks, along with the investment strategy, reports Centre Daily.
Claymore’s ETF will say farewell to the Benchmarks By Design High Income Index, and will instead seek results that correspond to the S&P Global Dividend Opportunities Index.
The fund will invest 90% of its assets into common stocks and ADRs listed on national exchanges and that offer high dividend yields, chosen from a pool of stocks that are listed on the exchanges of the countries included in the S&P/Citigroup Broad Market Index.
The dividend distribution will change from monthly to quarterly, as well.
