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Rating:First Trust Takes to the SKYY With a New ETF Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, June 24, 2011

First Trust Takes to the SKYY With a New ETF

Reported by Neil Anderson, Managing Editor

First Trust Advisors [see profile] is about to launch its sixtieth exchange-traded fund. The Wheaton, Illinois-based mutual fund firm revealed that it plans to list the First Trust ISE Cloud Computing Index Fund (SKYY), based on the ISE Cloud Computing Index, on the Nasdaq on July 6 [see filing].

The new ETF will cost 60 basis points and will be PMed by First Trust's investment committee, which includes: chief investment officer and senior vice president Robert Carey; senior vice president Jon Erickson; senior vice president Daniel Lindquist (chair of the committee); senior vice president David McGarel; senior vice president Roger Testin; and vice president Stan Ueland. First Trust will handle distribution itself. 

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