S-Network, an Alerian company, has launched the S-Network MicroSectors Gold Miners Index (ticker: MINERS). The market cap-weighted index is designed to track the performance of the VanEck Vectors Gold Miners ETF (GDX) and the VanEck Vectors Junior Gold Miners ETF (GDXJ).
The index will function as the underlying strategy for leveraged and inverse leveraged exchange traded notes. These ETNs will be issued by the Bank of Montreal, trading under the symbols GDXU and GDXD.
Dave LaValle, CEO of Alerian said, “This index represents Alerian/S-Network’s first joint collaboration with REX Shares and illustrates our ability to develop specialized solutions to address sophisticated needs in the marketplace.”
“We are proud to join forces with REX Shares in the development of an index that provides concentrated exposure to the gold mining industry,” said Patrick Shaddow, Head of Index Operations, S-Network.
“We are excited to partner with BMO and S-Network on the launch of the gold miners equity-focused exchange traded products with 300% and -300% daily resetting leverage,” said Scott Acheychek, President of REX. Since our founding, MicroSectors has focused on innovating the ETP landscape with the goal of providing access to targeted investable market segments for sophisticated investors. We are pleased to build on this objective with the launch of the MINERS index.”
For more information on the S-Network MicroSectors Gold Miners Index, please visit: S-Network Microsectors Indexes