Market Vectors announced today that the Board of Trustees of the Market Vectors ETF Trust has approved share splits for five recently introduced Market Vectors exchange-traded funds (ETFs). The split covers five of the six ETFs launched following the completion of Market Vectors’ exchange offer for corresponding Merrill Lynch HOLDRS. Details of the splits are as follows:
Market Vectors ETF
Oil Services ETF
Bank and Brokerage ETF
The splits will take place for shareholders of record as of the close of business on February 10, 2012, and will be payable on February 13, 2012. Fund shares will begin trading on a split-adjusted basis on February 14, 2012. Shareholders will see the change in their holdings sometime after that date, depending upon their brokerage firms’ procedures.