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Guggenheim S&P Equal Weight Financial ETF (RYF)

- NYSEARCA
  • Wed, Jul. 22, 3:01 PM
    • The OCC yesterday gave the green light to CIT Group's $3.4B purchase of OneWest Financial, and earlier this month regulators approved BB&T's $2.5B acquisition of Susquehanna Bancshares.
    • Possibly lifted now is concern nearly any sizable deal would get nixed (or delayed to death) by D.C. a la M&T's attempt to purchase Hudson City Bancorp (originally announced three years ago).
    • Both the CIT and BB&T deals, however, were approved within a year of their announcement, maybe making the M&T/Hudson experience the outlier rather than the norm.
    • While it still appears unlikely much bigger deals could win approval, the path could be clear for smaller-to-medium sized lenders to do business. Drexel Hamilton's David Hilder believes the CIT approval is a "positive catalyst" for acquisitions of lenders with up to $25B in assets.
    • Previously: CIT Group gains after winning regulatory green light for OneWest purchase (July 21)
    • ETFs: XLF, FAS, FAZ, UYG, KRE, VFH, KBE, IYF, BTO, IAT, SEF, IYG, FXO, FNCL, KBWB, FINU, QABA, KRU, KBWR, RWW, RYF, PSCF, FINZ, KRS
    | Wed, Jul. 22, 3:01 PM | 1 Comment
  • Aug. 1, 2011, 4:49 AM
    Major European hedge fund Lansdowne Partners has reportedly sold its entire $850M stake in Goldman Sachs (GS), underlining concerns about banking prospects due to regulatory changes. The divestiture has echoes of Lansdowne's exit from the industry in 2008, ahead of the financial crisis.
    | Aug. 1, 2011, 4:49 AM | Comment!
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RYF Description
Seeks to replicate as closely as possible, before expenses, the performance of the S&P Equal Weight Index Financials.
See more details on sponsor's website
Sector: Financial
Country: United States
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