Van Eck Global’s Market Vectors ETF Trust is planning to exchange shares of soon-to-be-launched Market Vectors ETFs for shares of six Merrill Lynch HOLDRS. The exchange offer is scheduled to be completed in the fourth quarter of 2011.
The newly redesigned HOLDRS will be benchmarked to Market Vector indices composed of 25 leading stocks within each below listed industry sector.
• Market Vectors Oil Services ETF (OIH)
• Market Vectors Semiconductor ETF (SMH)
• Market Vectors Pharmaceutical (PPH)
• Market Vectors Biotech (BBH)