Exchange traded fund manager WisdomTree (Other OTC: WSDT.PK) on Friday said it expects its common stock will list on the Nasdaq Global Market later this month in another sign of the maturity of the roughly $1 trillion U.S. ETF business.
The New York-based company in a press release Friday said it anticipates its stock will list on Nasdaq on or about July 26, and trade under the new ticker symbol “WETF.”
WisdomTree shares are currently traded on the pink sheets under the ticker “WSDT.”
The stock is up more than 60% so far in 2011 and has more than tripled over the past year. It was trading above $7 a share on Friday, near a 52-week high following a sharp move higher this week.
Hedge fund legend Michael Steinhardt is WisdomTree’s chairman.
The firm, which managers more than $13 billion in ETF assets, in May said it swung to a first-quarter profit. [WisdomTree Earnings]
WisdomTree listing on a major exchange is a “near term catalyst for the company,” Gabelli & Co. analysts wrote in a report earlier this year. ““The company is capitalizing on the demand for currency and commodity funds.” [ETFs Seen Hitting $2 Trillion by 2015]
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