ETF Launch: NETS DAX Index Fund (DAX, NTRS)

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The American Stock Exchange has launched an ETF called the NETS DAX Index Fund by Northern Trust Global Investments, an arm of Northern Trust Corp. (NASDAQ: NTRS) today. The exchange traded fund will track the German equity market and will be composed of the 30 largest and most active companies on the Frankfurt Stock Exchange. The specialist for the DAX is Susquehanna Investment Group, and this is now listed as NETS DAX INDEX FUND (AMEX: DAX). 

This is the third Northern Trust international based index to trade on the Amex, with the first two being tied to UK and Australia, launched April 9. Around April 16, three more internationally indexed ETFs will begin trading in Hong Kong, Japan, and France.

The NETS DAX hasn’t moved much today, sitting back at the opening price of $24.60 in early trading on extremely thin volume of 400 shares. Northern Trust Corp. is down $1.22 to $66.00 today.

Rachel Lopez
April 14, 2008