Exchange traded fund manager WisdomTree on Friday said it expects its common stock will list on the Nasdaq Global Market later this month in another sign of the maturity of the roughly $1 trillion U.S. ETF business.
The New York-based company in a press release Friday said it anticipates its stock will list on Nasdaq on or about July 26, and trade under the new ticker symbol “WETF.”
WisdomTree shares are currently traded on the pink sheets under the ticker “WSDT.”
The stock is up more than 60% so far in 2011 and has more than tripled over the past year. It was trading above $7 a share on Friday, near a 52-week high following a sharp move higher this week.
Hedge fund legend Michael Steinhardt is WisdomTree’s chairman.
The firm, which managers more than $13 billion in ETF assets, in May said it swung to a first-quarter profit.
WisdomTree listing on a major exchange is a “near term catalyst for the company,” Gabelli & Co. analysts wrote in a report earlier this year. ““The company is capitalizing on the demand for currency and commodity funds.”
WisdomTree
Chart source: StockCharts.com.
Telling myself no is getting to be old hat. Sure, there are definitely things I would love to have, but I’m becoming more comfortable with the thought that I can’t have everything my heart desires.
I’m even pretty good at limiting myself with purchases for the baby. Correction, I’m pretty good at buying NOTHING for the baby. Hmm. Perhaps I need to at least work on getting a bed for the poor little dude.
But I have a fatal flaw…
I want my husband to have absolutely everything and I’m realizing this could be a problem.
We received notice from his school that he is eligible to participate in the graduation ceremony next month. He’ll have two classes to take in the summer, but since they don’t have a winter ceremony, summer graduates walk early.
Ever since we received the notice, we have been receiving a barrage of e-mails, letters, and phone calls from the school and outside vendors to buy everything under the sun for the graduate.
$200 invitations? Yes! We NEED those. They have the OFFICIAL school seal! He DESERVES it. $500 lifetime membership to the alumni association? Of course he needs that! How else will we get tickets to games?!? $299 diploma holder? It’s important! $175 cap and gown
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In South Korea, a supermarket chain is experimenting with a new system that lets commuters shop from subway stations with the cellphones.
The biggest problem with ordering groceries for delivery has always been that looking at a selection of food online is very different from browsing the aisles at your local megamart. Homeplus, a South Korean grocery chain, has placed wall length billboards with photorealistic images of supermarket shelves on the wall of subway stations. Although virutal the displays were exactly the same as actual stores, from the display to the merchandise.
Shoppers use their cellphones scan the QR code of each product they want, and the products will be delivered to their doors.
Video after the jump.
Once again Payment Protection Insurance claims are being raised in the news. People everywhere are claiming back thousands and thousands in mis-sold PPI. Have you put your PPI claim in yet?
Barclays bank recently announced that they feel they are responsible for some of the mis-selling that has caused problems for millions of people in the UK over the last 15-20 years. Barclays are being honest about the situation and this should benefit their customer image, they have kindly set aside 1 billion pounds in anticipated Payment Protection Insurance claims. Unlike the Lloyds banking group who seem to enjoy making it difficult to complete a claim from start to finish, LBG (Lloyds banking group) have announced that they estimate around 20% of all payment protection insurance claims will be rejected within the first couple of weeks due to having ‘no PPI’.
Not many people can understand why Lloyds is taking the difficult route with their clients, when it would make life easier for people if they just paid them their PPI premiums back and brushed the whole incident under the carpet. Sur
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The largest exchange traded fund following gold prices rose to a new all-time high Thursday as investors continued to fret over the Eurozone debt crisis and uncertainty over the U.S. debt ceiling.
SPDR Gold Shares pared earlier gains and was flat for the session at last check after setting a new record high.
It has more than $60 billion in assets and is among the gold ETFs that have given retail investors a way to own and trade gold. They have also fueled speculation in the yellow metal, according to some reports.
Gold bugs say that the precious metal has plenty of room to run before a real peak will be hit.
“Current gold prices should be seen as a buying opportunity in the gold and silver markets,” Julian Phillips, publisher of the Gold Forecaster newsletter, said in a client alert. “Gold and silver will not simply be a profit opportunity, but one of the few places where wealth, as it was valued yesterday, will not only hold, but grow its value, tomorrow.”
Uncertainty over the U.S. debt limit may be driving interest in safe havens. Moody’s this week said it has placed its triple-A rating on U.S. governmen
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