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Rydex Near a Sale

Stock quotes in this article: ETFC , AMTD , SCHW , IVZ  

Rydex Investments, a fund firm with some $16 billion in assets under management, is near a deal to sell itself for about $800 million to $1 billion, TheStreet.com has learned.

Rydex could be sold to either E*Trade Financial (ETFC Quote) or Invesco(IVZ Quote), according to people familiar with Rydex.

Rumors have floated about a possible sale of the mutual and ETF manager over the past few years since its founder, Skip Viragh, died of pancreatic cancer in 2004. Followers of the company say a sale announcement is expected imminently. ...

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