FOCUS: New Aluminum ETF Focus On Mining Companies

NASDAQ.com reports that the new Global X Aluminum ETF, (NYSE:ALUM) a new ETF based on mining companies, debuted on Jan 5, 2010, and traded 40,000 shares on its’ first day.

The editorial is quoted as saying:

The New York-based firm already has a copper-miner ETF which started trading about six to eight months ago, said Bruno del Ama, chief executive officer of Global X Funds. Given the strong performance of that ETF – which started trading about six to eight months ago, said Bruno del Ama, chief executive officer of Global X Funds. Given the strong performance of that ETF – which has about $100 million currently invested – an aluminum ETF was a logical choice. “We wanted do ETFs based on copper and aluminum … they are the two most important markets in base metals,” he said.

To access the full editorial, click here.