Guggenheim Investments is liquidating nine exchange traded funds to make room for other “products that have demonstrated the most marketplace demand.”
Earlier this month, the Boards of Trustees of the Claymore Exchange Traded Fund Trust, the Claymore Exchange Traded Fund Trust 2 and the Rydex ETF Trust approved the closing and subsequent liquidations of the selected ETFs, including the Guggenheim ABC High Dividend ETF (ABCS); Guggenheim MSCI EAFE Equal Weight ETF (EWEF); Guggenheim S&P MidCap 400 Equal Weight ETF (EWMD); Guggenheim S&P SmallCap 600 Equal Weight ETF (EWSM); Guggenheim Airline ETF (FAA); Guggenheim 2x S&P 500 ETF (RSU); Guggenheim Inverse 2x S&P 500 ETF (RSW); Wilshire 5000 Total Market ETF (WFVK) and the Wilshire 4500 Completion ETF (WXSP).
The average size of the nine closing ETFs is $16 million, for a total of $144 million, roughly 1% of Guggenheim Investments' total $13.7 billion in exchange-traded assets as of January 31, according to the firm. The last day of trading and the final date for creation and redemption activity for the nine liquidating ETFs is expected to be Friday, March 15, 2013.
In a statement, William Belden, managing director and head of product development said the firm " remains committed to the ETF business, and this evolution is a natural and necessary part of the process to ensure we are meeting our clients' needs."