Claymore Securities has announced the closure and liquidation of four lightly followed exchange traded funds (ETFs), stating that they didn’t gain enough traction to be kept around.
Sept. 10, 2010, will be the last day of trading for the following ETFs:
- Claymore/Zacks Dividend Rotation ETF (NYSEArca: IRO)
- Claymore/Zacks Country Rotation ETF (NYSEArca: CRO)
- Claymore/Beacon Global Exchanges, Brokers & Asset Managers Index ETF (NYSEArca: EXB)
- Claymore/Robb Report Global Luxury Index ETF (NYSEArca: ROB)
Shareholders can sell their shares before the close on the 10th, and the funds will no longer accept creation or redemption orders for fund shares. All shareholders remaining on Sept. 17, 2010, will receive a cash distribution into their brokerage account representing the value of their shares as of that date, which will also include any capital gains and dividends. [What Happens When an ETF Closes.]
Tisha Guerrero contributed to this article.
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.