SPY Is Still a Unit Investment Trust. Here’s Why That Quirk Matters (and When It Doesn’t)
Source ↗
👁 0
💬 0
The post SPY Is Still a Unit Investment Trust. Here’s Why That Quirk Matters (and When It Doesn’t) appeared first on 24/7 Wall St..
The State Street SPDR S&P 500 ETF Trust (NYSEARCA:SPY) launched on January 22, 1993. According to State Street Global Advisors, it was “the very first exchange-traded fund listed in the United States.” More than three decades later, it still uses its original legal setup. State Street’s fund page says SPY’s shares “repre
The State Street SPDR S&P 500 ETF Trust (NYSEARCA:SPY) launched on January 22, 1993. According to State Street Global Advisors, it was “the very first exchange-traded fund listed in the United States.” More than three decades later, it still uses its original legal setup. State Street’s fund page says SPY’s shares “repre
Comments (0)