BOSTON, (Reuters) – The first exchange-traded fund based on an index of microcap stocks began trading on Tuesday on the New York Stock Exchange, staying roughly unchanged at midday.
The iShares Russell Microcap Index Fund is indexed to a subset of the Russell Microcap Index, which was launched in June and measures the performance of U.S. equity microcaps, representing …
about 3 percent of the American equity market.
The fund therefore focuses on companies with market capitalizations of $50 million to $550 million.
In midday trading on the New York Stock Exchange, fund shares were down 0.08 percent at $50.21.
The ETF industry has flourished in the last two years, seeing record inflows and the launch of a flurry of new funds. According to the Investment Company Institute, ETF assets rose $4.27 billion in June to $242.7 billion and the number of funds traded rose to 171 from 163.
Fonte: Reuters
