Effective May 1, 2014, the Market Vectors RVE Hard Assets Producers ETF will change its name to Market Vectors Natural Resources ETF (NYSE Arca:HAP). This follows the rebranding of the Fund’s benchmark index from the RogersTM-Van Eck Hard Assets Producers Index to the RogersTM-Van Eck Natural Resources Index. The Index’s methodology and underlying constituents remain unchanged while the rebranding effort better aligns the Index with the industry segment it seeks to represent. The RogersTM-Van Eck Natural Resources Index remains one of the most comprehensive global natural resources equities indices. The Index comprises companies that are principally engaged in the production and distribution of commodities and commodity-related products and services in agriculture, energy, precious metals, base and industrial metals, alternatives, and forest products. “HAP is a broad-based ETF that can serve as the core of any natural resources investment allocation,” said Brandon Rakszawski, Product Manager with Market Vectors ETFs. “Its comprehensive exposure may be attractive to investors seeking long-term access to global companies participating in the commodity segment.” HAP is one of 12 hard assets ETFs in the Market Vectors family, which includes funds focused on specific segments of the hard assets markets such as Agribusiness ETF (MOO), Coal ETF (KOL), Global Alternative Energy ETF (GEX), Gold Miners ETF (GDX), Junior Gold Miners ETF (GDXJ), Oil Services ETF (OIH), Rare Earth/Strategic Metals ETF (REMX), Solar Energy ETF (KWT), Steel ETF (SLX), Unconventional Oil & Gas ETF (FRAK) and Uranium+Nuclear Energy ETF (NLR). About Market Vectors ETFs Market Vectors exchange-traded products have been offered since 2006 and span many asset classes, including equities, fixed income (municipal and international bonds) and currency markets. The Market Vectors family totaled $23.4 billion in assets under management, as of March 31, 2014, making it one of the largest in the U.S. and worldwide.
In trading on Monday, shares of the Unconventional Oil & Gas ETF entered into oversold territory, changing hands as low as $21.62 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100.