Saying Goodbye to an ETF
The Claymore products will conclude trading on Sept. 10 while Grail's funds will see their last day of trading on Aug. 30. Up until these dates, investors are free to buy and sell shares of these products as they please.
Although trading will essentially go on as usual, during this time investors may start shedding shares in droves. This can cause ROB, RPQ and others to trade at a steep discount. Therefore, it will be crucial to use extreme caution.
If by Sept. 10 you still have exposure to any of the Claymore products slated for extinction, funds will be locked up until Sept. 17. This is not a reason to worry unless shares take a heavy knock.
Rather, on the 17th, shareholders will be issued a cash payout representative of the position's value as of that date. This will include any dividends and capital gains.Shares of RPQ and RFF will be redeemed for cash on Aug. 31. -- Written by Don Dion in Williamstown, Mass.
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