FocusShares ETFs Launched Yesterday Plunge In Latest Apparent Flash Crash (FMU, FLG, FMM, FOS, FBM, FCQ, FCL, FCD, FEG, FFL, FHC, FIL, FRL, FTQ, FUI)

A flash crash reminiscent price plunge forced the Nasdaq OMX to cancel the trades on new exchange-traded funds that on Thursday saw their share prices tank.  Reuters is reporting that, “The ETFs, sponsored by Scottrade affiliate FocusShares, started trading on Wednesday and on Thursday plunged with some losing 98 percent of their value.” The “crash” happened between 9:54 and 9:56 this morning.

It appears that the Focus Morningstar Healthcare ETF (NYSE:FHC) fell to as low as 60 cents after trading as high as $25.33, while the Focus Real Estate ETF (NYSE:FRL) fell to $1.48 from $25.50.

A spokesperson for FocusShares states that the shareholders will not see the value of their shares impacted.

We will provide more information as it becomes available.

         
ETF Name   Symbol   Total Expense Ratio*
FocusTM Morningstar US Market Index ETF   (NYSE:FMU)   0.05%
FocusTM Morningstar Large Cap Index ETF   (NYSE:FLG)   0.05%
FocusTM Morningstar Mid Cap Index ETF   (NYSE:FMM)   0.12%
FocusTM Morningstar Small Cap Index ETF   (NYSE:FOS)   0.12%
FocusTM Morningstar Basic Materials Index ETF   (NYSE:FBM)   0.19%
FocusTM Morningstar Communication Services Index ETF   (NYSE:FCQ)   0.19%
FocusTM Morningstar Consumer Cyclical Index ETF   (NYSE:FCL)   0.19%
FocusTM Morningstar Consumer Defensive Index ETF   (NYSE:FCD)   0.19%
FocusTM Morningstar Energy Index ETF   (NYSE:FEG)   0.19%
FocusTM Morningstar Financial Services Index ETF   (NYSE:FFL)   0.19%
FocusTM Morningstar Health Care Index ETF   (NYSE:FHC)   0.19%
FocusTM Morningstar Industrials Index ETF   (NYSE:FIL)   0.19%
FocusTM Morningstar Real Estate Index ETF   (NYSE:FRL)   0.12%
FocusTM Morningstar Technology Index ETF   (NYSE:FTQ)   0.19%
FocusTM Morningstar Utilities Index ETF   (NYSE:FUI)   0.19%

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