ETF Focus: New ETF is a bet on the death of retail stores [MarketWatch]
ProShares Equities for Rising Rates ETF (EQRR)
US:NASDAQ Investor Relations:
proshares.com/funds/eqrr.html
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Source: MarketWatch
New ETF is a bet on the death of retail stores Most sector-themed exchange-traded funds are launched to take advantage of a fast-growing segment of the equity market. A new one is offering exposure to an industry it expects to drop to zero. ProShares on Thursday launched the ProShares Decline of the Retail Store ETF, a fund that is designed to rise as brick and mortar stores fall, as they have been doing consistently all year. The fund trades under the ticker symbol “EMTY.” The ETF is an inverse fund, meaning it offers short exposure to an underlying index. If the index were to fall 1% during a session, for example, the ETF is designed to rise 1%. The fund fell 1.3% in its trading debut, although volume was light, with fewer than 1,000 shares exchanging hands. The SPDR S&P Retail ETF XRT, +1.63% an ETF that tracks a broad index of retailers, was up 1.6% on the day, supported in large part by strong results at Wal-Mart Stores Inc WMT, +8.85% which took the stock to all-time high
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