Wall Street Journal
December 10, 2011
The first U.S. exchange-traded fund to track only Greek stocks launched this week, offering investors another tool to play Europe's ongoing sovereign-debt crisis.
The Global X FTSE Greece 20 ETF kicked off trading on Thursday on NYSE Euronext's electronic Arca exchange, listed under the ticker GREK.
The fund, reflecting the trend of ever more specific slivers of market exposure, is tied to the FTSE/ATHEX 20 Capped Index, which tracks the top 20 companies by market capitalization on the Athens Stock Exchange.
"Greece has been in the headlines pretty much every other day for the last 18 months," says Global X Funds Chief Executive Bruno del Ama. "[We're aiming to] facilitate access to that market."
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