2nd ETF to start trade soon if government accepts our proposal: SEO head

TEHRAN- The head of Iran’s Securities and Exchange Organization (SEO) announced that the units of the second exchange-traded fund (ETF) will be traded soon if the government accepts this organization’s proposal.

“A few days ago, a proposal was submitted to the government, and if this proposal is accepted, the second ETF will start trade soon”, Hasan Qalibaf-Asl said on Sunday.

The second ETF’s director had announced in late October that the time when the fund’s units would be tradable was unclear.

Davood Razaqi said, “As two of the four refineries, whose shares are due to be offered via this fund, have increased their capital, but the capital boosting has not been considered in the ETF’s asset, the fund’s index cannot be opened yet.”

As he said, the capital boosting has occurred at Tehran Oil Refining Company and Isfahan Oil Refining Company.

In May, the Iranian government sold shares in three

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The Invesco Dynamic Software ETF: A Risk/Reward Proposition (NYSEARCA:PSJ)

The Invesco Dynamic Software ETF (NYSEARCA:PSJ) is intended to track the “Dynamic Software Intellidex Index” which is composed of 30 US-based software companies and is rebalanced quarterly in February, May, August and November. PSJ carries a 4-star rating from Morningstar and has a 0.56% expense ratio. As most investors know, software companies – and in particular those using the SaaS-based business model – typically have high margins due to a recurring revenue base driven by relatively small number of employees in comparison to global revenue generation. Does the PSJ ETF belong in your portfolio’s allocation for growth?

Fund Metrics

Some of the typical ETF metrics are summarized below and taken from Invesco’s PSJ homepage:

  • Average weighted P/E = 37.3x
  • Average weighted price-to-book = 7.1x
  • Average weighted ROE = 160%
  • AUM = $535 million

As can be seen from the data above, PSJ is a growth-oriented ETF and investors are paying

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New ETF Could Have Right Internet Retail Moves

Emerging markets stocks are believed to be beneficiaries of Joe Biden’s ascent to the White House, but investors looking to avoid potential disappointment and embrace dominant equities in developing economies may do well to consider and Internet and online retail fare.

a close up of a computer keyboard

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What Happened: Plenty of exchange-traded funds check those boxes, including the newest member of the group, the Global X Emerging Markets Internet & E-commerce ETF (NASDAQ: EWEB).


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Whether EWEB proves to be a well-timed addition to the world of ETFs remains to be seen, but, appropriately so, the fund debuted on Nov. 11, which just happened to be China’s Singles Day, the world’s largest online retail event.

Why It’s Important: EWEB extends a stretch of nifty launches by Global X, marking the third such launch in about as many weeks. The issuer is one of the dominant forces when it comes

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Global X ETFs Further Expands Thematic Offering with Launch of Emerging Markets Internet & E-commerce ETF (EWEB)

NEW YORK, Nov. 11, 2020 (GLOBE NEWSWIRE) — Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), today announced the launch of the Global X Emerging Markets Internet & E-commerce ETF (EWEB). The fund is a furtherance of Global X’s funds offering targeted access to powerful disruptive trends around the world.

In 2018, 74% of global growth was attributable to emerging market economies, driven in large part by a rapidly growing middle class of internet-connected consumers.1 These rising digital consumers are forming new consumption patterns, driving the growth of emerging market e-commerce platforms. In 2019, for example, Amazon celebrated that over $7 billion worth of goods were sold through its platform on Prime Day, a testament to consumer’s adoption of e-commerce in developed markets.2 But in China, this number was dwarfed by Alibaba’s 2019 estimated sales totaling $38.4 billion recorded on the nation’s Single’s Day.3

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UP Fintech Asset Management Announces Closure of UP Fintech China-U.S. Internet Titans ETF

NEWTOWN SQUARE, Pa., Nov. 2, 2020 /PRNewswire/ — The Board of Trustees of the TIGERSHARES Trust has decided to liquidate and close the UP Fintech China-U.S. Internet Titans ETF (TTTN) (the “Fund”), based on the recommendation of the Fund’s adviser, Wealthn LLC (d/b/a UP Fintech Asset Management (“Wealthn”)), and Wealthn’s parent company, UP Fintech Holding Limited. This recommendation is based on a determination that, in light of an ongoing review of market demand, the Fund’s continued operation is not in the best interests of the Fund’s shareholders.

The Fund will cease trading on the Nasdaq Stock Market LLC (“Nasdaq”) and will be closed to purchase by investors as of the close of regular trading on the NYSE on November 18, 2020 (the “Closing Date”). The Fund will not accept purchase orders after the Closing Date.

Shareholders may sell their holdings in the Fund prior to the Closing Date subject

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Tech Halo Is Fading as Traders Pull Most ETF Cash in 17 Months

(Bloomberg) — Whether it’s election jitters, virus concerns or old-fashioned bubble fears, the invincible halo surrounding American tech stocks this year is finally fading.

Investors are on course to pull the most money out of technology-focused exchange-traded funds since May last year, according to data compiled by Bloomberg. More than $1.5 billion has exited so far in October.

Tech names were among the hardest hit on Wednesday as the S&P 500 dropped the most since June amid growing fears the resurgent coronavirus will derail an economic rebound. The Nasdaq 100 Index rebounded 1.2% at 10:25 a.m. on Thursday in New York, though it remains heavily down for the week.

chart: Haven Questioned

© Bloomberg
Haven Questioned

“They’ve been seen as this sector set apart from the rest of the economy because the profits have kept coming in,” said Tim Courtney, chief investment officer of Exencial Wealth Advisors. “That will start to be tested

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Cathie Wood’s Internet ETF Sells Some Tesla, Xilinx, Buys The Dip In Fastly

One of the top-performing ETFs of the year bought the dip in Fastly Thursday.


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What Happened: After pre-announcing third quarter earnings, Fastly Inc (NYSE: FSLY) saw shares drop 30% after-hours on Wednesday.


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That dip led to the opportunity for the Ark Next Generation Internet ETF (NYSE: ARKW) to take a stake in the company.

The Ark Next Generation Internet ETF, led by Cathie Wood, bought 304,300 shares of Fastly. This represents a current stake of $27.3 million, around 1% of the fund’s assets.

The fund also bought small amounts of Palantir Technologies (NYSE: PLTR) and Zoom Video Communications (NASDAQ: ZM) on Thursday.

The ETF sold part of its stake in Tesla Inc (NASDAQ: TSLA), which is its top holding.

The Next Generation Internet ETF is known for its bullish take on the electric vehicle maker, and the stock has been the ETF’s top holding

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