Market Vectors, the New York-based ETF issuer known for its
suite of emerging markets and unique bond
, announced reverse splits for seven of its ETFs.
Three of the the funds that will be reverse split are
single-country emerging markets ETFs while the three of the
remaining four are equity-based commodities funds.
The effective date of the split will be at market open on July
according to a statement issued by Market
The Market Vectors Global Alternative Energy ETF (NYSE:
), the Market Vectors Russia Small-Cap ETF (NYSE:
) and the Market Vectors Uranium+Nuclear Energy ETF (NYSE:
) will be reverse split on a 1-for-3 basis.
The Market Vectors Egypt Index ETF (NYSE:
), the Market Vectors India Small-Cap Index ETF (NYSE:
), the Market Vectors Junior Gold Miners ETF (NYSE:
) and the Market Vectors Rare Earth/Strategic Metals ETF (NYSE:
) will be reverse split on a 1-for-4 basis.
GDXJ has $1.2 billion in assets under management, making it
fair to call the ETF "popular" by any metric. Even legendary
financier George Soros
held a stake in the ETF at the end of the first
The ETF has not rewarded investors' faith. GDXJ, like every
other ETF tracking gold miners, has struggled mightily for over a
year. At the start of 2013, the fund traded above $20. At this
writing, the fund trades below $8.90.
For more on ETFs, click
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