Trades busted in Guggenheim financial ETF

Sep. 19, 2016 1:03 PM ETRYF, EWREBy: Stephen Alpher, SA News Editor
  • With exchange officials ruling execution prices as "clearly erroneous," 1.2K trades in the $148M Guggenheim S&P Equal Weight Financial ETF (NYSEARCA:RYF) were busted this morning. A number of other unusual trades were allowed to stand.
  • Source: Barron's Christ Dieterich
  • At issue were trades taking place in the premarket between 9:24 and 9:27 ET, with Nasdaq - after an examination - saying all those executed at a price above $34.01 were busted.
  • The problem appears to be with recent index changes that pulled most REITs out of the financial sector and into their own classification. Guggenheim is giving all RYF owners commensurate shares of the Guggenheim Equal Weight Real Estate ETF (NYSEARCA:EWRE).
  • More than 580K trades look to have been cancelled, some at as high of a price as $43.11.

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