WHAT THE? (SEA-shipping ETF)
Crazy and scary how ETF's work sometimes. For example, the people who were bullish on the shipping industry a couple months ago and decided to buy SEA (the Claymore Global Shipping ETF) got screwed! Due to Claymore being acquired by Guggenheim in October of last year, Claymore closes the SEA fund/etf and pulls it off the NYSE in late April of this year at around $16.00 per unit. Then just over a month later Claymore opens another shipping ETF under the same symbol, SEA (now called 'Claymore Shipping'), priced at around $26.00 per unit. What the heck is up with that! That's just highway robbery. Would love to get people's opinions on this as to wether they think this was fare to the old unit holders of SEA.