HOUSTON--(BUSINESS WIRE)-- Vanguard Natural Resources, LLC (NYSE:VNR) ("Vanguard") announced today its intention to voluntarily transfer its stock exchange listing from the New York Stock Exchange ("NYSE") to The NASDAQ Global Select Market ("NASDAQ"), an exchange of The NASDAQ OMX Group Inc. (Nasdaq:NDAQ). Vanguard currently expects that its Class A common units will commence trading on the NASDAQ on April 23, 2013 and will continue to be listed under the ticker symbol "VNR." Vanguard's common units will continue to trade on the NYSE until the transfer has been completed.
Scott W. Smith, President & Chief Executive Officer, commented, "After careful consideration, we believe the NASDAQ will provide our unitholders with access to an advanced trading platform and will be a more cost effective platform for Vanguard currently and even more so in the future as we continue to grow. In addition, NASDAQ offers quantitative and qualitative governance standards more beneficial to listed companies with significant retail unitholders, particularly those related to quorum requirements."
Why? Who cares? Seems like a technical issue. Maybe some of the drop can be explained by NYSE index funds dropping it? Maybe the corresponding NASDAQ index funds are smaller? Or maybe it was just the drop in oil, QRE is down also. But BBEP and LINE are up. You could go mad trying to figure short-term moves in these MLP's.
Nasdaq is a much better market with better liquidity than the NYSE. companies such as Intel, Microsoft, Cisco, Apple etc. habe long understood this and have remained on Nasdaq in spite of herculean efforts by the NYSE to get them to list