Market Vectors® To Split Shares Of Indonesia Index ETF Three For One
Van Eck Global announced today that the Board of Trustees of the Market Vectors ETF Trust has approved a three-for-one split of the shares of Market Vectors Indonesia Index ETF (ticker: IDX). IDX’s closing price on Friday, January 14, was $82.04.
This split will take place for shareholders of record as of the close of business on January 28, 2011, and will be payable on January 31, 2011. Fund shares will begin trading on a split-adjusted basis on February 1, 2011. Shareholders will see the change in their holdings sometime after that date, depending upon their brokerage firms’ procedures.
The split will lower the share price of the Fund by increasing the number of shares outstanding, but will not change the total value of shares outstanding. The expected primary benefit of this action is that lower share prices will make the Fund more accessible to investors. Van Eck Global anticipates that the split may also create greater liquidity for the Fund and, by extension, facilitate tighter bid-ask spreads.
Market Vectors Indonesia Index ETF, the largest U.S. ETF focused exclusively on Indonesia, offers investors convenient one-trade access to a basket of many of the largest and most liquid stocks in Indonesia’s investable universe. The Fund’s coverage of Indonesia is comprehensive, as it includes publicly traded companies deriving at least 50% of their revenues in the country, even if listed, domiciled or headquartered elsewhere. Fund constituents and weights are updated and published daily, and are accessible for free. Weights are capped at 8% and each constituent must meet minimum requirements for market capitalization and daily trading volume.Van Eck Global is the sixth largest provider of ETFs in the United States in terms of assets under management as of December 31, 2010 and offers 29 ETFs under the Market Vectors ETF brand. These funds focus on hard assets, international markets, municipal bonds and other fixed income investment categories.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV