Claymore’s Solar ETF (TAN) Options Trading Starts Today on NYSE Arca Options
Claymore/MAC Global Solar Energy Index ETF is First to Provide Investor Access to Fast-Growth Solar Power Industry
LISLE, Ill.--(BUSINESS WIRE)--Claymore Securities, the third-fastest growing exchange-traded fund provider in 2007*, today announced that the NYSE Arca Options began trading options on the Claymore/MAC Global Solar Energy Index ETF (TAN). Listed on the NYSE Arca on April 15, 2008, TAN is the first solar ETF to provide investors a cost-efficient means of accessing the fast-growing global solar power industry. Trading more than 1 million shares on its second day on the market, the Claymore/MAC Global Solar Energy Index ETF has an average daily trading volume of 536,494 shares with $42,726,460 million assets under management in only its first week of trading. Past performance is no guarantee of future results.
“The opportunity to now trade options on TAN allows for additional investor interest.”
“The instant popularity of TAN acknowledges the maturing of the solar energy industry and reflects investor interest in funding solar power development,” said Christian Magoon, President of Claymore Securities, Inc. “The opportunity to now trade options on TAN allows for additional investor interest.”
TAN seeks to replicate the MAC Global Solar Energy Index (Index Ticker: SUNIDX), which was developed and is maintained by MAC Indexing, LLC, an affiliate of Melvin & Company. Melvin specializes in clean energy equity research and index development.
TAN is listed on the NYSE Arca and trades the same way as shares of a publicly traded company. TAN and other Claymore ETFs can be purchased through most brokerage accounts. Claymore ETFs can be bought and sold throughout the day on the NYSE Arca or the American Stock Exchange, depending on the ETF listing, during normal trading hours. TAN issues and redeems Shares at NAV only in large blocks of 80,000 of Shares (each block of Shares called a “Creation Unit”) or multiples thereof. Only broker-dealers or large institutional investors with creation and redemption agreements and called Authorized Participants (“APs”) can purchase or redeem these Creation Units.
*Source: Claymore Securities, Inc., Bloomberg 2007 ETF data
Please see www.claymore.com/tan and the prospectus for more information. Investors buying or selling ETF shares on the secondary market may incur brokerage costs and other transactional fees. Shares of ETFs will fluctuate in price due to daily changes in trading volume. At times, shares may not have a high volume of trading. Except when aggregated in Creation Units, Shares are not redeemable securities of the Fund.
About Claymore Securities
Claymore Securities, Inc. is a privately-held financial services company offering unique investment solutions for financial advisors and their valued clients. Claymore entities have provided supervision, management, servicing or distribution on approximately $17.3 billion in assets as of March 31, 2007. Claymore currently offers exchange-traded funds, unit investment trusts and closed-end funds.
Claymore Advisors, LLC, an affiliate of Claymore Securities, Inc, serves as investment adviser to the Fund.
About MAC Indexes, LLC
MAC Indexes, LLC is an affiliate of Melvin & Company that specializes in clean energy equity research and index development. Melvin & Company is an institutional research and brokerage firm based in Chicago (see www.MelvinCo.com). Melvin & Company is a FINRA/SEC securities firm and is a member of the following organizations: Securities Investors Protection Corporation (SIPC), Securities Industry Association (SIA), Securities Traders Association (STA), National Association of Securities Professionals (NASP), National Futures Association (NFA), and Municipal Securities Rulemaking Board (MSRB). Melvin & Company was founded in 1989 by Christopher C. Melvin. Christopher Melvin is the CEO of MAC Indexes, LLC and Melvin & Company.
There can be no assurance that the Fund will achieve its investment objective. An investment in the Fund is subject to risk, including possible loss of principal. Investing in non-U.S. issuers may involve unique risks, such as currency, political, economic and market risk. Investment in securities of issuers based in developing or “emerging market” countries entails all of the risks of investing in securities of non-U.S. issuers, as previously described, but to a heightened degree. Investing in securities of micro-, small- or medium-sized companies involves greater risk as these stocks may be more volatile and less liquid than those of larger or more established companies and may have returns that vary, sometimes significantly, from the overall stock market.
A significant percentage of the Index may be comprised of issuers in the solar industry or sector of the economy. If the Fund is focused in an industry or sector, it may present more risks than if it were broadly diversified. Prices of energy or alternative energy may decline. The alternative energy industry can be significantly affected by a variety of fundamental, competitive, regulatory, economic, and supply/demand factors. The solar energy industry has experienced an industry-wide shortage of polysilicon, which may place constraints on the revenue growth or productivity of solar energy companies. Solar energy companies may not be able to secure adequate and cost-effective supply of solar wafers, cells or reclaimable silicon. A lack or delay of widespread adoption or sufficient demand, changes to government subsidies, economic incentives or regulations and policies may present technical, regulatory or economic barriers to the purchase or use of solar power products thus reducing demand or causing corresponding declines in the revenues and profits of solar energy companies.
Additional risks of the Fund include but are not limited to: Non-Correlation Risk, Replication Management Risk, Issuer-Specific Changes and Non-Diversified Fund Risk. Buying or selling ETF shares will incur brokerage costs and other transactional fees. Shares of ETFs may fluctuate in price due to daily changes in trading volume. At times, shares may not have a high volume of trading. Please refer to the Fund’s prospectus for more complete information.
The Fund is not sponsored, endorsed, sold or promoted by MAC Indexing LLC ("Licensor"). Licensor makes no representation or warranty, express or implied, regarding the advisability of investing in securities generally or in the Fund particularly or the ability of the Global Solar Power Index ("Index") to track general market performance. Licensor's only relationship to the Licensee is the licensing of the Index which is determined, composed and calculated by Licensor without regard to the Licensee or the Fund. Licensor has no obligation to take the needs of the Licensee or the owners of the Fund into consideration in determining, composing or calculating the Index. Licensor shall not be liable to any person for any error in the Index nor shall it be under any obligation to advise any person of any error therein.
Investors should consider the investment objectives and policies, risk considerations, charges and expenses of any investment product carefully before investing. The prospectus contains this and other relevant information. Investors should read the prospectus carefully before investing or sending money. For this and more information, please contact a securities representative or:
NOT FDIC - INSURED -- NOT BANK - GUARANTEED -- MAY LOSE VALUE
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