Claymore Securities Inc. of Lisle, Ill., has launched what it says is the first exchange-traded fund providing access to the shipping sector.
Introduced Monday on the NYSE Arca exchange, the Claymore/Delta Global Shipping Index ETF will seek to replicate the Delta Global Shipping Index, which was developed by Delta Global Indices LLC, a subsidiary of Delta Global Advisors Inc. of Huntington Beach, Calif.
The shipping index includes companies that derive at least 80% of their revenue from the seaborne transport of goods or the operating or leasing of ships. To make the index, companies must have market capitalizations of at least $250 million and a 30-day average daily trading volume of at least $2 million.
Claymore had $18.4 billion of assets under management June 30.
