Archive for January, 2008

Interesting New Products

Greenhaven launched a new Commodity ETF last thursday. The symbol is GCC and it is based on the old CCI(Continuous Commodity Index).  The Index has 17 commodities equally weighted. The bulk of the other Commodity based ETFs are heavily weighted with the energy sector. With 9000 shares on day one and 21,000 shares on day two it looks like a favorable launch.Van Eck launched a gaming ETF, symbol BJK.  While not moving quickly the first two days it appears to be a product with some hope.On the Municipal ETF front there continues to be signs of success. After a relatively slow start, there is some growth in AUM in the Barclays, Powershares and State Street lists. Van Eck offerings have been slower but like the others national products they should gain some momentum. 

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Municipal ETFs

Van Eck has joined the fray with their long term offering MLN. Typically the first day results were spotty but that has been the norm for new issues.All of the long term National Municipal ETFS have sold well and the seed money has been finished. Barclays MUB, SSGA’s TFI and Powershares PZA all continue to sell well and grow in assets. Of some interest is the fact that the NY and Calif Muni ETFS are starting to show some real movement. INY, and CXA from SSGA, NYF from Barclays, PZT and PWZ from Powershares are all showing a pick up in sales. Likewise SSGAs short offering of SHM has doubled its AUM and Powershares PVI(short VRDO) continues to show consistent sales and consequent growth. What was moribund in November has become lively in late December and early January. The yields still look attractive.