Seeking Alpha

PureFunds ISE Mining Service ETF (MSXX)

MSXX is defunct since January 25, 2014. Lack of investor interest
  • Jan. 13, 2014, 12:18 PM
    • The PureFunds ISE Diamond/Gemstone ETF (GEMS) and the ISE Mining Service ETF (MSXX) will both close on or about January 24 after struggling to attract funds since their late 2012 launch. Also launched at the same time is the ISE Junior Silver ETF (SILJ), currently with $1.5M AUM.
    | Jan. 13, 2014, 12:18 PM | Comment!
  • Nov. 15, 2013, 12:52 PM
    • The basic materials sector has badly lagged the broader market YTD, and Miller Tabak's Jonathan Krinsky surmises investor rotation into the group is likely if the overall market rally is set to continue.
    • Krinsky's charts tell him the sector has been making higher lows since the 2009 bottom, but unlike the broad market and many other sectors, it has yet to clear its 2007-08 highs, giving the look of an ascending triangle - and the presumption of an upside resolution.
    | Nov. 15, 2013, 12:52 PM | 2 Comments
  • Sep. 12, 2013, 2:58 PM
    • Oppenheimer analysts are believers in the materials sector, citing increasing evidence that the global economy is modestly improving from its recent lethargic pace of growth, particularly in emerging markets.
    • Strategas isn't so sure; despite some stronger equity performance in recent weeks, it sees the persistence of cyclical weakness in emerging economies and the apparent forming of a structural consolidation in global commodities complex; it favors companies with a higher domestic revenue profile over those with a broader global footprint.
    • Vulcan Materials (VMC) gets just 1% of its revenue overseas, while Airgas (ARG) has just 2%; those least exposed to the U.S. economy include Newmont Mining (NEM), which gets all of its revenue abroad, and International Flavors (IFF) and Owens-Illinois (OI), which each get 23%-24% of sales at home.
    | Sep. 12, 2013, 2:58 PM | Comment!
  • Sep. 11, 2013, 10:56 AM
    • BofA Merrill Lynch sees huge contrarian value in global mining and steel companies while investors remain underweight in their holdings.
    • A stronger global economy is coming, BAML says, noting China has been restocking iron ore, the pace of copper destocking in the country has slowed, and global steel prices have been rising.
    • The top buys from the firm: ATI in steel, CNX in coal, ABX and KGC in precious metals, KALU in aluminum, and SCCO in copper, plus diversified miners FCX and VALE.
    | Sep. 11, 2013, 10:56 AM | 3 Comments
MSXX Description
The PureFunds ISE Mining Service ETF was developed to give mining investors a product that can be less sensitive to short term price fluctuations in spot metal and mineral prices, but still provide investors with exposure to longer term market conditions in the metal and mineral markets. The Fund seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the ISE Mining Service Index.
See more details on sponsor's website
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub