Could it be a case of unfortunate timing for Van Eck? IGR will stop trading on the 24th assuming the shareholder meeting approves the merger, yes? The timing on their qtrly rebalance means they had to decide whether to ditch IGR assume nothing goes wrong so the balance is right for the next quarter, or have the IGR shares converted to SLR and have the balance all out of whack for a quarter, because I don't think that SLR are in that index.
Naturally any selling in IGR will flow through to SLR as the arbitrage becomes more attractive.
Anyone know if the upgraded SLR is a candidate for any other index inclusion or re-weighting?
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