Global X Funds, the New York-based provider of exchange-traded funds, announced Monday that its SuperDividend ETF is among those that generated the highest volume on their first day of trading in 2011.
The fund started trading on the NYSE Arca on June 9, 2011, and traded 320,924 shares with a total value of $7.9 billion. With a ticker symbol of SDIV, it is the third most traded ETF on the first day of trading out of 161 fund launched this year.
The ETF tracks the Solactive Global SuperDividend Index, which measures the performance of 100 equally weighted companies that rank among the highest dividend-yielding equity securities in the world. The index provider applies certain dividend stability filters. With equal weighting across a group of 100 securities, the company claims investors may have less risk exposure in the event that a single company depreciates in price or reduces its dividend.