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.
“Global X Funds received the most innovative North American ETF company prize by both U.S. and European institutions,” said Bruno del Ama, chief executive officer of Global X Funds, in a statement. “The Global X SuperDividend ETF may be our most innovative ETF to date and we are pleased to see investors embracing SDIV from day one.”
Global X Funds has $1.7 billion in managed assets as of May 31, 2011, making it is one of the fastest growing ETF providers in the world. The firm offers exchange-traded funds that target income, commodity producers, developed markets and emerging markets.