In June, shares of Walter sank after the company pulled a planned $1.55 billion credit refinancing plan. Although Walter’s second-quarter metallurgical coal output was about 2.9 million metric tons, about 7 percent more than, the company slashed its quarterly dividend to a penny a share from 12.5 cents
Alpha Natural, Cloud Peak and Walter combine for 7.3% of KOL’s weight. The fund’s largest holding is Consol Energy (NYSE: CNX), which garners a weight of 8.4%. KOL has not traded above its 200-day moving average since late February.
Market Vectors Coal ETF
ETF Trends editorial team contributed to this post.