BOSTON--(BUSINESS WIRE)--The SPDR® Exchange Traded Fund (ETF) listed in the table below, announced today that the Fund received a payment as authorized claimant from a class action settlement related to Weatherford International Ltd. (NYSE: WFT).
The total payment to be received by the Fund is listed below. When the Fund calculates its net asset value (“NAV”) per share on Tuesday, August 22, 2017, it is estimated that the Fund’s NAV will be impacted by the amount stated below based on shares outstanding as of August 18, 2017.
Shares Outstanding as of
August 18, 2017
|Per Share Impact|
|SPDR S&P Oil & Gas Equipment & Services ETF (XES)||$166,929||17,950,000||$0.0093|
SSGA manages approximately $566 billion in SPDR ETF assets worldwide (as of June 30, 2017) and is one of the largest ETF providers in the US and globally.
About SPDR Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs are managed by SSGA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of State Street Corporation. The funds provide investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as an industry pioneer, State Street created the first US listed ETF in 1993 (SPDR S&P 500® – Ticker SPY) and has remained on the forefront of responsible innovation, as evidenced by the introduction of many ground-breaking products, including first-to-market launches with gold, international real estate, international fixed income, and sector ETFs. For more information, visit www.spdrs.com.
About State Street Global Advisors
For nearly four decades, State Street Global Advisors has been committed to helping financial professionals and those who rely on them achieve their investment objectives. We partner with institutions and financial professionals to help them reach their goals through a rigorous, research-driven process spanning both active and index disciplines. We take pride in working closely with our clients to develop precise investment strategies, including our pioneering family of SPDR ETFs. With trillions* in assets under management, our scale and global footprint provide access to markets and asset classes, and allow us to deliver expert insights and investment solutions.
State Street Global Advisors is the investment management arm of State Street Corporation.
* Assets under management were $2.61 trillion as of June 30, 2017. AUM reflects approx. $34 billion (as of June 30, 2017) with respect to which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
Investing involves risk including the risk of loss of principal.
ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.
In general, ETFs can be expected to move up or down in value with the
value of the applicable index. Although ETFs may be bought and sold on
the exchange through any brokerage account, ETFs are not individually
redeemable from the Fund. Investors may acquire ETFs and tender them for
redemption through the Fund in Creation Unit Aggregations only, please
see the prospectus for more details.
All ETFs are subject to risk, including possible loss of principal.
Funds investing in a single sector may be subject to more volatility than funds investing in a diverse group of sectors.
Because of their narrow focus, sector funds tend to be more volatile than broadly diversified funds and generally result in greater price fluctuations than the overall market.
Non-diversified funds that focus on a relatively small number of securities tend to be more volatile than diversified funds and the market as a whole.
Passively managed funds hold a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. This may cause the fund to experience tracking errors relative to performance of the index.
While the shares of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress.
Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs.
Before investing, consider the funds’ investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 866.787.2257 or visit spdrs.com and respective fund's website. Read it carefully.
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Not FDIC Insured –No Bank Guarantee – May Lose Value