WisdomTree Closes 10 ETFs to Pave the Way for Others
January 30th at 1:00am by Tom Lydon
Exchange traded fund (ETF) provider WisdomTree announced on Friday that it plans to close 10 of its ETFs. The designated funds represent approximately 3% of WisdomTree’s total ETF assets.
“We proposed the closure of 10 ETFs in order to create capacity for future growth initiatives, and because we believe it is in the best interest of our customers and shareholders to dedicate our resources to areas of greater client interest,” said WisdomTree CEO Jonathan Steinberg. The provider has approximately $6 billion in ETF assets under management. [Don't let ETF closings get you down.]
The final day of trading on the NYSE Arca will be Wednesday, March 24, 2010. Shareholders who do not sell their fund shares by this date will have their shares automatically redeemed on March 29, 2010, the funds’ last day of operation. [The ETF closure process.]
The 10 closing funds are:
- WisdomTree International Technology Sector Fund (NYSEArca: DBT)
- WisdomTree International Financial Sector Fund (NYSEArca: DRF)
- WisdomTree International Health Care Sector (NYSEArca: DBR)
- WisdomTree International Consumer Staples Fund (NYSEArca: DPN)
- WisdomTree International Consumer Discretionary (NYSEArca: DPC)
- WisdomTree International Industrial (NYSEArca: DDI)
- WisdomTree International Communications (NYSEArca: DGG)
- WisdomTree Europe Total Dividend Fund (NYSEArca: DEB)
- WisdomTree Earnings Top 100 (NYSEArca: EEZ)
- WisdomTree U.S. Short Term Government Income Fund (NYSEArca: USY)
