The new Claymore Global Shipping Index ETF (SEA) has been trading for a little over a month now, and a lot has changed since this new fund set sail. The top holdings of the fund are now more concentrated, the prior second largest holding is now the 14th largest, and the energy sector allocation of the fund has gained about a 4% additional weighting. The Global Shipping fund is based on the Delta Global Shipping Index, including companies that derive at least 80% of their revenues from the seaborne transport of goods or the operating and leasing of ships. The minimum market cap for a company to be included in the fund is $250 million, and a 30 day trading volume of $2 million.
SEA is country heavy in Greece (34%), the United States (17%), Bermuda (16%), and the Bahamas (11%).
The top 10 holdings in the Global Shipping Index ETF are:
Teekay LNG Partners – 5.48%
Frontline Ltd. – 4.89%
Tsakos Energy Navigation – 4.86%
Diana Shipping – 4.80%
Teekay Tank – 4.26%
Ship Finance International – 4.03%
DHT Maritime Inc. – 3.82%
Knightsbridge TA – 3.78%
Seaspan Corp. – 3.64%
Euroseas Ltd. – 3.60%
The fund is currently comprised of 30 companies, and has a price to earnings ratio of 6.6. The fee structure is capped at 65 basis points, and currently has total managed assets of around $5.7 million trading on the NYSE Arca exchange.
Sunday, October 19, 2008
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