SSGA makes changes to SPDR Morgan Stanley Technology ETF

Sep 1st, 2017 | By | Category: ETF and Index News

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State Street Global Advisors (SSGA), the asset manager behind the SPDR range of ETFs, has announced future changes to the name and index of the SPDR Morgan Stanley Technology ETF.

SSGA makes changes to SPDR Morgan Stanley Technology ETF

As of 11 September 2017, the SPDR Morgan Stanley Technology ETF will begin tracking the NYSE Technology Index.

Effective Monday 11 September 2017, the fund will be renamed the SPDR NYSE Technology ETF to reflect the change in underlying index to the NYSE Technology Index. The fund’s ticker symbol will be changed to XNTK. The annual gross expense ratio remains unchanged at 0.35% and no action is required by shareholders.

This change was brought about by Morgan Stanley’s decision to transition out of index calculation and administration services. The investment characteristics of XNTK’s new index are similar to the previous index, with the noted change of using the NYSE’s sector/industry classification system. There will be no changes to the index constituents or weights until the next scheduled reconstitution in December 2017.

The NYSE Technology Index is an equally weighted index designed to objectively represent the technology sector by holding 35 of the leading US technology-related companies. The index comprises US-listed companies drawn from the information technology sector and technology-related companies from the consumer discretionary sector, as defined and published by ICE Data.

The ICE Data Indices Index Committee is responsible for the day-to-day management of the index and is also responsible for decisions regarding the interpretation of index rules. The index is rebalanced annually in December.

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