Claymore Securities will close and liquidate four of its ETFs, with the last day of trading on December 11.
The firm says the combined assets of these four "lightly followed" ETFs represent less than 0.70% of its total ETF assets.
The Claymore/Morningstar funds to be closed include the Manufacturing Super Sector index ETF, the Information Super Sector index ETF, the Services Super Sector index ETF, as well as the Claymore US-1 - The Capital Markets index ETF.
The funds will be closed to new investments on December 11 and will halt trading on the NYSE Arca platform before the start of trading on December 14.
Claymore says shareholders can sell fund shares before December 14, after which point they can sell to certain broker dealers, up until December 18. Shareholders remaining on this date will receive a cash distribution into their brokerage account. The amount will represent the value of their shares as of that date, including any capital gains and dividends.
Claymore Securities president Christian Magoon says: "We have taken a reflective review of our current product lineup and after careful evaluation, we feel that these changes are in the best interest of shareholders."
They join the technical teams
'It's about outcomes'
New technology categories
'Significant impact on bottom line'