State Street Global Advisors announced the name change of one of the United States’ oldest and largest exchange traded funds (ETFs). But will an ETF by any other name still smell as sweet?
State Street Global Advisors is changing the name of the Dow Diamonds (NYSEArca: DIA) to the SPDR Dow Jones Industrial Average ETF to better reflect the firm’s unified brand. The change became effective on Feb. 26. [Two Indexes All ETF Investors Should Know.]
No changes are being made to the fund’s investment objective or ticker symbol. [All About the Dow.]
The ETF aims to track the price and yield performance of the Dow Jones Industrial Average, an index of 30 blue-chip U.S. stocks. By the end of January 2010, the ETF had about $8 billion in assets under management.
DIA is one of the giants of the ETF universe. The fund, which launched on Jan. 14, 1998, has more than $8 billion in assets and an average daily trading volume of nearly 14 million shares.
For more stories about DIA, visit our DIA category.
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