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THURSDAY, AUG. 30
First Trust Rolls Out Tail Hedge ETF
First Trust debuted an ETF tracking a VIX-based index designed as a hedging tool. The First Trust CBOE VIX Tail Hedge Index Fund (NYSEArca: VIXH) will combine a portfolio of S&P 500 components with a "variable option overlay" involving one-month call options on the VIX. VIXH charges an annual expense ratio of 0.60 percent, according to its prospectus.
BroadSouth Requests ETF Exemptive Relief
New York-based BroadSouth Investment Management filed 40-APP paperwork with the SEC requesting the relief necessary to market index-based ETFs. The firm plans to funds that combine equities and fixed income, as well as international and domestic exposure. The filing identifies S&P Dow Jones Indices as the index provider for the funds.
ProShares Plans Reverse Split for UVXY
ProShares announced that it plans a 1-for-10 reverse split for the ProShares Ultra VIX Short-Term Futures ETF (NYSEArca: UVXY), meaning the number of shares will shrink by a factor of 10, while the price of each share will increase by a factor of 10. The split is scheduled for Sept. 6.
HEDJ Changes Name, Index
The WisdomTree International Hedged Equity Fund (NYSEArca: HEDJ) has been renamed the WisdomTree Europe Hedged Equity Fund as of late August. The fund also changed its benchmark index, adopting the WisdomTree Europe Hedged Equity Index to replace the WisdomTree DEFA International Hedged Equity Index.
TUESDAY, AUG. 28
Van Eck Plans Short-Term Junk Muni ETF
Van Eck Global recently filed for a fund that will target short-term municipal bonds offering high yields. The Market Vectors Short High-Yield Municipal Index ETF will use a representative sampling strategy to replicate its underlying benchmark. The filing did not include a ticker or fees.