NEW YORK--(BUSINESS WIRE)--Van Eck announced today that it plans to change the primary listing venue of its Market Vectors Biotech ETF (BBH) and Market Vectors Pharmaceutical ETF (PPH) from NYSE Arca, Inc. (“NYSE Arca”) to the NASDAQ Stock Market, LLC. (“NASDAQ”).
Van Eck anticipates that the funds will begin trading on the NASDAQ on or about February 1, 2016 under their current ticker symbols "BBH” and “PPH." Until that time, fund shares will continue to trade on the NYSE Arca.
“As part of Van Eck’s continuous risk assessment analysis, listing venue diversification has been identified as one element of our firm-wide strategy,” said Ed Lopez, Director and Head of ETF Product Management. “Van Eck maintains a strong relationship with both NYSE Arca and NASDAQ and we thank them for their commitment to the ongoing success of the diverse ETP marketplace.”
No shareholders action is required as a result of this change.
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About Van Eck
Founded in 1955, Van Eck Associates Corporation was among the first U.S. money managers helping investors achieve greater diversification through global investing. Today the firm continues this tradition by offering innovative, actively managed investment portfolios in hard assets, emerging markets, precious metals including gold, fixed income, and other alternative asset classes.
Market Vectors exchange-traded products have been sponsored by Van Eck since 2006 when the firm launched the nation’s first gold-mining ETF. Today, Market Vectors ETFs and ETNs span several asset classes, including equities, fixed income (municipal and international bonds) and currency markets. Market Vectors is one of the largest ETP families in the U.S and worldwide.
Van Eck also offers mutual funds, insurance trust funds, separate accounts and alternative investments. Designed for investors seeking innovative choices for portfolio diversification, Van Eck’s investment products are often categorized in asset classes having returns with generally low correlations to those of more traditional U.S. equity and fixed income investments.
Please call 800.826.2333 or visit our website for the most recent month-end performance of Market Vectors ETFs. This information will be available no later than seven business days after the most recent month end.
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The Funds are subject to risks, which include those associated with investments in the pharmaceutical and biotechnology sectors, including development, procurement and/or marketing of drugs, the development, protection, and exploitation of intellectual property rights, patent expiration, and regulatory scrutiny and approval, which may adversely affect the Funds or the Funds’ trading.
Fund shares are not individually redeemable and will be issued and redeemed at their “Net Asset Value” (NAV) only through certain authorized broker-dealers in large, specified blocks of shares called creation units and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind. Shares may trade at a premium or discount to their NAV in the secondary market.
Investing involves substantial risk and high volatility, including possible loss of principal. An investor should consider the investment objective, risks, charges and expenses of a Fund carefully before investing. To obtain a prospectus and summary prospectus, which contain this and other information, call 888.826.2333 or visit vaneck.com. Please read the prospectus and summary prospectus carefully before investing.