Tuesday, January 06, 2015 3:39:31 PM
"Sign of a top for airlines? New airlines ETF in the works"
"NEW YORK (MarketWatch) -- Southwest LUV, performed best among all S&P 500 stocks in 2014, and airline stocks overall fared well, helped by factors such as falling fuel prices and industry consolidation. Traders didn't have an airlines ETF offering them a way to bet on this tricky industry, but now one with the ticker "JETS" is in the works, according to a regulatory filing.
U.S. Global Investors will serve as the adviser for the U.S. Global Jets ETF, which is expected to track an index that includes 25 to 40 airlines and have an expense ratio of 0.6%. Prior airline ETFs with the tickers FAA and FLYX shut down after they didn't attract much money. Some investors longed for an airlines ETF in 2014, but Murphy's Law tells us that "by the time another one rolls around, the industry will start faltering," wrote Bloomberg's Eric Balchunas in a blog post in July. ETF Trends first reported on the filing for JETS."
http://www.marketwatch.com/story/sign-of-a-top-for-airlines-new-airlines-etf-in-the-works-2015-01-05
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