Shipping Industry ETF Begins Trading

Claymore Securities announced the listing of the Claymore/Delta Global Shipping Index ETF (SEA) which invests in global shipping companies.

SEA tracks a global portfolio of 30 maritime shipping stocks with a current combined market cap near $50 billion.

According to the prospectus, the index includes companies that derive at least 80% of their revenues from the seaborne transport of dry bulk goods and the leasing and/or operating of tanker ships,container ships, specialty chemical ships and ships that transport liquid natural gas (“LNG”) or dry bulk goods.  Additionally, index constituents must have market capitalizations of at least $250 million.

The index uses a modified dividend weighting approach that caps the maximum exposure to any one company at 4% at the time of rebalance.  The Index will be reconstituted annually with rebalancing occurring quarterly.

See the Claymore directory for a complete listing.  With the addition of SEA, the ETF directory now includes nearly 80 specialized industry ETFs.