State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT), today announced it will rebalance the holdings of eight SPDR(R) exchange traded funds that seek to track S&P Select Industry Indices on June 19, 2009 in accordance with the new procedural changes implemented by Standard & Poor’s.
Beginning with the June 2009 rebalancing of the S&P Select Industry Indices, Standard & Poor’s will rebalance the indices to equal weights using closing prices on the second Friday of the rebalancing month (i.e. the stock price reference date is one week prior to the rebalancing date effective date). The rebalancing effective date will remain after the close of the third Friday of the month.
The SPDR ETFs based on S&P Select Indices include: — SPDR S&P Retail ETF (Symbol: XRT) — SPDR S&P Homebuilders ETF (XHB) — SPDR S&P Oil & Gas Equipment & Services ETF (XES) — SPDR S&P Oil & Gas Exploration & Production ETF (XOP) — SPDR S&P Pharmaceuticals ETF (XPH) — SPDR S&P Biotech ETF (XBI) — SPDR S&P Metals & Mining ETF (XME) — SPDR S&P Semiconductor ETF (XSD) State Street Global Advisors is one of the largest ETF providers in the United States and globally. US assets under management for SPDR ETFs totaled more than $129.5 billion as of March 31, 2009.
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