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AdvisorShares Weekly Market Review-Tax Bill Passed and Signed!
December 26, 2017--Highlights of the Week Ending 12/22/2017
Macro
Now maybe the folks who voted on it will have time to read it. Please forgive us for being a little cynical about the political process but more and more the landmark pieces of legislation often come with unintended consequences, so it was true for Affordable Care Act, so it is likely to be with the new tax plan.
Whether cynicism is justified or not the bond market’s reaction was interesting. The yield on the Ten Year US Treasury Note moved higher on the news to 2.48%, up about ten basis points from where it was on Monday.
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Source: AdvisorShares
ETF Managers Group Announces MJX Live for Trading on the NYSE
December 26, 2017--ETF Managers Group LLC ("ETFMG") announced today that MJX, the ETFMG Alternative Harvest ETF is live and available for trading on the NYSE Arca.
This fund is one of the first of its kind available to U.S. investors allowing them access to a unique sector in this rapidly evolving market. MJX is designed to replicate the Prime Alternative Harvest Index, which tracks companies likely to benefit from the increasing global acceptance of various uses of the cannabis plant. This includes treatments from innovative medicinal breakthroughs involving the plant's unique properties-the result of years of significant research by the global biotech and pharmaceutical community.
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Source: ETF Managers Group LLC
Barclays Announces Expected Delisting of GAZ ETNs
December 22, 2017--Barclays Bank PLC ("Barclays") announced today that it expects the New York Stock Exchange Arca (the "NYSE Arca") to commence proceedings to delist the iPath(R) Bloomberg Natural Gas Subindex Total ReturnSM Exchange Traded Notes (the "ETNs") (Ticker: GAZ) from the NYSE Arca.
The delisting decision was reached because such condition exists, which in the opinion of NYSE Arca, makes further dealings on the exchange inadvisable pursuant to NYSE Arca Rule 5.2-E(j)(6)(B)(II)(2)(b)(iii). Specifically, the Notes are no longer suitable for listing based on abnormally low trading prices. The Index underlying the ETNs is the Bloomberg Natural Gas Subindex Total ReturnSM (the "Index"), with Bloomberg ticker BCOMNGTR.
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Source: Barclays
Invesco Announces Fee Cut on two PowerShares ETFs
December 22, 2017--Invesco (NYSE: IVZ), a leading global provider of exchange-traded funds (ETFs), announced today that management fees on the PowerShares S&P 500 Momentum Portfolio (SPMO) and the PowerShares S&P 500 Enhanced Value Portfolio (SPVU) are being lowered from 0.25% to 0.13%, effective January 1, 2018.
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Source: Invesco Ltd.
Futures Firm Cboe Filed for 6 Bitcoin ETFs This Week
December 22, 2017--The Chicago Board Options Exchange (Cboe) has filed with the U.S. Securities and Exchange Commission (SEC) to list multiple bitcoin futures ETFs, public records show.
According to Cboe's website, the firm submitted proposed rule changes that would clear the way for listing the following ETFs: the First Trust Bitcoin Strategy ETF, the First Trust Inverse Bitcoin Strategy ETF, the GraniteShares Bitcoin ETF, the GraniteShares Short Bitcoin ETF, the REX Bitcoin Strategy ETF and the REX Short Bitcoin Strategy ETF.
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Source: coindesk.com
Index on bitcoin futures (XBTSM) launched by Solactive as part of exclusive worldwide agreement with Cboe Global Markets
December 22, 2017--Three weeks after the approval of bitcoin futures by the Commodity Futures Trading Commission in the United States, Solactive is launching the Solactive Bitcoin Front Month Rolling Futures 5D Index, an index tracking the performance of XBT futures listed on Cboe Global Markets (Cboe).
On Sunday, 10 December 2017, Cboe made history by becoming the first regulated exchange to list bitcoin futures, for which Solactive has been granted worldwide exclusivity in index calculations.
Bitcoin, the most prominent cryptocurrency, rose from USD 789 in December 2016 to USD 18,960 in December 2017(1), an increase in price of more than 2,300% over the course of the last twelve months. According to coinmarketcap.com, an online platform tracking the performance of cryptocurrencies, the total market capitalization of bitcoin reached USD 320 billion in the third week of December 2017(2).
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Source: Solactive AG
Search Results Innovator Capital debuts fund of funds focused on momentum
December 22, 2017--Innovator Capital Management has brought to NYSE Arca an exchange-traded fund that invests in other ETFs selected for their ability to outperform the broader financial market based on momentum.
The Innovator IBD ETF Leaders ETF is designed to replicate the performance of the IBD ETF Leaders Index..
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Source: smartbrief.com
Thomson Reuters-U.S. Fund-Flows Weekly Report: Funds Suffer Worst Weekly Net Outflows of the Year
December 22, 2017--Thomson Reuters Lipper's fund macro-groups (including both mutual funds and ETFs) suffered their worst weekly net outflows of 2017 as their coffers shrank $46.4 billion for the fund-flows week ended Wednesday, December 20. Equity funds (-$22.2 billion) and money market funds (-$21.2 billion) dominated the net outflows, while taxable bond funds contributed $3.3 billion to the total outflows.
Municipal bond funds, with a net inflow of $251 million, were the only group taking in net new money for the week.
Market Overview
The S&P 500 Index and the Dow Jones Industrial Average appreciated 0.62% and 0.57%, respectively, for the fund-flows trading week. The markets took strength from optimism that the Republican tax bill would be passed soon.
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AdvisorShares Actively Managed ETF Report Month ending 11.30.2017 view more CFTC.gov Commitments of Traders Reports Update
Source: Thomson Reuters
December 22, 2017--Assets in actively managed ETFs grew by $1.53 billion, or 3.5%, to $44.31 billion. The space realized a net increase of two funds, which brought the total number of
actively managed ETFs to 199.
Typically, fixed income strategies lead growth in the actively managed ETF space as again was the case in November. Sometimes that flow is consistent with the rest of the ETF industry but most of the time the passive and active segments differ from each other on what drives their respective growth. In November, overall ETF industry flows showed domestic equities adding $16 billion and international equities expanding by $12 billion, which dwarfed fixed income flows that combined to print at just
over $7 billion.
Source: AdvisorShares
December 22, 2017--The current reports for the week of December 19, 2017 are now available.
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Source: CFTC.gov
