Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Silver ETF Starts Trading Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, April 28, 2006

Silver ETF Starts Trading

by: Armie Margaret Lee

Barclays Global Investors launched its silver exchange-traded fund on the American Stock Exchange, a day after the the Securities and Exchange Commission approved the registration for the investment vehicle.

The iShares Silver Trust, which began trading Friday under the symbol "SLV," is the first ETF backed solely with silver. The investment objective is for the share value to mirror the performance of the price of silver, less the expenses of the trust's operations. Each share will be worth 10 ounces of silver.

The Bank of New York has been appointed trustee of the ETF and the London branch of J.P. Morgan Chase Bank has been tapped to serve as custodian.

Friday's launch comes ten months after Barclays filed a registration statement with the SEC for the fund. The Silver Users Association had expressed opposition to the ETF, arguing that it will cause a shortage of silver in the market and drive prices higher. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use