] fund is getting a new name. WisdomTree International Hedged Equity ETF
will be known as the WisdomTree Europe Hedged Equity Fund
after Aug. 29, according to a Benzinga report
. The fund will still trade under the ticker HEDJ.
, research director announced earlier this month that the fund will undergo restructuring as they reduce exposure to the euro and European companies involved in financial services.
, chief investment strategist for WisdomTree, said in a statement, "Concerns over the future of the euro may cause investors to reevaluate their exposure to Europe, though current valuations for European stocks remain compelling based on historically low P/E ratios1 and high dividend yield differentials compared to the US."
The $15.1 million ETF currently invests almost 22 percent in financials. After the restructuring, it will reduce its exposure to financials to 7.7 percent, and it will continue to charge an expense ratio of 58 basis points.
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