3 ETNs Delisting from NYSE; 6 ETFs Shutting Down

In severely challenged markets, we’ve seen a number changes in the ETF business. This week, a few more shifts are being made.

Three of the Elements exchange traded notes (ETNs) announced that they’ll be taken off the New York Stock Exchange (NYSE) on April 3. Credit Suisse credited “insufficient” trading volumes for the decision. At the same time, Credit Suisse didn’t rule out letting the trio of ETNs trade over the counter.

According to Index Universe, the notes are:

• Elements MLCX Gold Index ETN (GOE)
• Elements MLCX Livestock ETN (LSO)
• Elements MLCX Precious Metals Plus Index (PMY)

One ETN will remain on the exchange: Elements Credit Suisse Global Warming (GWO).

Meanwhile, SPA Market Grader ETFs are shutting down their six funds after lack of investor interest has left them with no other choice. The last trading day will be March 25.

John Spence for MarketWatch explains that the provider has hinted at re-entering the market with their ETF strategy after the conditions improve. Any shareholders remaining in the ETFs on March 30 will receive cash at the NAV of their shares.

Comments

[fdfe:]

CAN SOMEONE PLEASE TELL ME HOW ONE CAN RECOGNISE AN ETF OR ETN THAT IS IN DANGER AS FAR AS THE ISSUER IS CONCERNED...NOT THE ACTUAL INVESTMENT.....so I want to buy RJI but I am not sure if the bank that is banking it is solvent. Then there is the GLD.....is there any chance that it is a scum?? what are the warning signs that one can should look for.....ETFs and ETNs are becoming very popular and I am not sure if this will be another "tech bubble....suckers trap"....thanks

Mar 21 04:29 PM