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State Street Launches First Active Fund (RORO); First Trust and PowerShares Launch 2 Funds (FTLS, LDRI)

U.S. equities got off to a sour start this week, with Monday and Tuesday seeing major indexes end in the red. Stocks finally stabilized on Wednesday, even though economic data came in worse-than-expected: wholesale inventories rose 0.1% in July versus analyst expectations of a 0.5% rise. In corporate news, all eyes were on Apple after the company unveiled its latest models of its iPhone as well as its new iWatch [see also Under the Hood of the Internet ETF (FDN)]. On the ETF front, State Street debuted its first actively managed fund. First Trust also launched an active long-short ETF, while PowerShares introduced its new “laddered” bond fund. A “Risk Aware” Fund State Street’s new actively managed SPDR SSgA Risk Aware ETF (RORO) aims to provide investors with a way to capitalize on risk-on and risk-off fluctuations in the U.S. equity market, essentially providing competitive returns compared to the broad U.S. equity […]

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FlexShares Launches New Mortgage-Backed Securities Fund (MBSD)

Wall Street kicked off the month of September on a mixed note, with equities taking a slide on Tuesday following Labor Day; historically, September has always been a bad month for stock markets. Investors have been keeping a close eye on Europe in recent months, especially focusing on conflicts between Ukraine and Russia [see Annual GDP Growth: A Good Predictor of Single-Country ETF Returns?]. On Thursday, however, investors weighed an unexpected decision from the European Central Bank. The ECB announced that it has lowered all its interest rates, and that the central bank would buy asset-backed securities and covered bonds to spur the economy.  On the home front, U.S. jobless claims rose by 4,000 to 302,000, slightly above the expected 300,000. Private sector payrolls also came in below expectations, rising to 204,000 in August vs. the estimated 215,000.  In ETF news, FlexShares announced its launch of a new mortgage-backed securities fund. A […]

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FlexShares Launches New Mortgage-Backed Securities Fund (MBSD)

Wall Street kicked off the month of September on a mixed note, with equities taking a slide on Tuesday following Labor Day; historically, September has always been a bad month for stock markets. Investors have been keeping a close eye on Europe in recent months, especially focusing on conflicts between Ukraine and Russia [see Annual GDP Growth: A Good Predictor of Single-Country ETF Returns?]. On Thursday, however, investors weighed an unexpected decision from the European Central Bank. The ECB announced that it has lowered all its interest rates, and that the central bank would buy asset-backed securities and covered bonds to spur the economy.  On the home front, U.S. jobless claims rose by 4,000 to 302,000, slightly above the expected 300,000. Private sector payrolls also came in below expectations, rising to 204,000 in August vs. the estimated 215,000.  In ETF news, FlexShares announced its launch of a new mortgage-backed securities fund. A […]

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New Issuer WBI Shares Debuts 10 ETFs

Wall Street saw the S&P 500 Index logging in its first ever above-2,000 close this week, setting a new milestone in the stock market’s recent bull run. Also this week, investors digested several economic reports. Orders for durable goods surged 22.6% in July from the prior month, well above analyst expectations of 7.5% (but driven mostly by airplane orders). In addition, the S&P/Case-Shiller index rose 8.1% in June, slightly below expectations [see How the S&P 500 Reacts to Unemployment Reports]. On the ETF front, a new issuer made its Wall Street debut, launching 10 new exchange traded funds, which began trading on Wednesday, August 27.  WBI Shares WBI Shares is partnered with WBI Investments, a New Jersey-based firm that provides institutional and private client wealth management solutions. According to its website, WBI Shares specializes in offering innovative actively managed ETFs, which focus on providing “consistent, attractive returns, net of expenses, with potentially […]

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Direxion Launches Three 2X Shares; AdvisorShares Debuts Active Dividend Fund

This week, Wall Street digested the latest U.S. GDP data, which came in at a seasonally adjusted annual rate of 4.0% in the second quarter. For the first half of 2014, the economy managed to eke out positive growth, expanding at a 0.9% pace [see How Well Do Defensive ETFs Actually Work?]. On the earnings front, Lorillard, Phillips 66, Waste Management, Reynolds American, and UPS reported worse-than-expected results, while American Express, Pfizer and Merck managed to beat analyst expectations. In ETF news, Direxion launched three new 2x bull funds, while AdvisorShares rolled out its new actively managed dividend fund.  Behavioral Finance Behind New Dividend ETF AdvisorShares debuted its Athena High Dividend ETF (DIVI), which is actively managed by AthenaInvest Advisors, LLC. The managers use a behavioral finance approach to identifying securities for DIVI’s portfolio. Stocks are screened and selected using the Portfolio Manager’s patented research. The research measures behavioral factors of active equity fund […]

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