Claymore Securities announced plans to close and liquidate four lightly followed ETFs that represent less than 0.70% of its total ETF assets.
The affected ETFs include Claymore/ Morningstar Manufacturing Super Sector Index ETF (MZG),Claymore/Morningstar Information Super Sector Index ETF (MZN), Claymore/Morningstar Services Super Sector Index ETF (MZO), and Claymore U.S.-1 – The Capital Markets Index ETF (UEM).
The company published several key dates related to the closing and liquidation:
– December 11, 2009 will be the last day of trading on the NYSE Arca. Effective that day, the Funds will be closed to new investments through creation activity.
– The NYSE Arca will halt trading in the Funds before the open of trading on December 14, 2009.
– Shareholders may sell their Fund shares prior to December 14, 2009. It is anticipated that transactions executed prior to December 14, 2009 will be subject to the fees normally assessed by broker-dealers for such transactions.
– From December 14, 2009 through December 18, 2009, shareholders may be able to sell their shares to certain broker-dealers, but there can be no assurance that there will be a market for the Funds.
– All shareholders remaining on December 18, 2009, will receive a cash distribution into their brokerage account representing the value of their shares as of that date, which will also include any capital gains and dividend.
For additional information, shareholders in these ETFs may call their financial advisor or Claymore at 888-949-3837.