Close Close
ThinkAdvisor

Financial Planning > Trusts and Estates > Trust Planning

Gold ETF Launched on NYSE

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

Nov. 18, 2004 — streetTRACKS Gold Trust said it has priced its initial public offering of 2,300,000 shares of a new gold-based exchange traded fund (ETF), the streetTRACKS Gold Shares.

The ETF will trade under the ticker symbol “GLD” on the New York Stock Exchange.

The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion, minus the Trust’s expenses.

The Trust holds gold bullion and is expected from time to time to issue ETF Shares in exchange for deposits of gold and to distribute gold in connection with redemptions of the shares through its Trustee.

World Gold Trust Services, LLC, which is wholly-owned by the World Gold Council, is the sponsor of the Trust.

Contact Bob Keane with questions and comments at: [email protected].