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Wednesday, February 02, 2011

An Egypt ETF Trades at a Premium

News summary by MFWire's editors

Fundsters following the news on the current unrest in Egypt may want to take a look at today's Wall Street Journal. Yesterday InvestmentNews noted that Van Eck's Market Vectors Egypt Index ETF [see profile] has seen its assets double and then stopped issuing new shares (see The MFWire, 2/1/2011), and then today in the "Fund Track" column, John Spence reports that the ETF's shares are now trading at a 10 percent premium in the secondary market, as if it were a closed end mutual fund. 

Edited by: Neil Anderson, Managing Editor


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