Claymore Advisors is moving closer to convert the Claymore/Raymond James SB-1 Equity closed end fund into an exchange traded fund (ETF).

The board for both the fund and the Claymore ETF Trust approved the conversion. A proposal to convert the fund will be submitted to a vote of shareholders at the 2008 annual meeting of sharholders in August.

Marc Hogan for Ignites reports that stocks from all market capitalizations are included within the index, and the securities all rate a Strong Buy 1 rating by the research company, Raymond James Research Services. The ETF has applied to list on the NYSE Arca.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.