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WisdomTree Global ex-US Real Estate ETF Message Board

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  • gmhb172068 gmhb172068 Apr 4, 2012 11:31 AM Flag

    No dividends again?!

    So let me get this straight, if hypothetically 100% of DRWs floated ETF shares showed up for sale at once with no bids, it would have no effect on the ultimate transaction price(if it is strictly tracking its NAV)?? Doesn't make sense to me, open market transactions should always be affected by the desires and desparation of buyers and sellers. I could have placed a limit order to sell my shares at an arbitrary level, what's to prevent that? ETFs can trade at a discount or premium to their NAV, yes/no?So I fail to understand why on 3/14/12 on 10x volume of 550,000 shares, the share price fell only $0.50 off of $27.3. I lost far more than you since I bought high and sold everything when I found out about the first dividend drop, which happened to be equal to 60% of the total annual dividend payout,and was the nadir of the share pricing for the year. It seems to me, a select few knew this was coming and sold prior to the dividend loss....but I was convinced the fund would tank after this fact came to light. I called Wisdom Tree with the same WTF dividend question because it was "hidden" from any public domain news releases, it wasn't even reflected in the reported trailing dividend data on any of the stock tracker websites(because in the fine print, the trailing data was conditioned to a date favorable to delaying the adjustment by about 2 months). So now the share price is dropping along with the rest of the market. It's immune to a 2 huge dividend misses???

    I got trapped by my outsider, naive perception that the loss in share price would be more than compensated for by the high yield, never dreaming that the winter dividend was asymettrically large and about to be missed .....my bad!!! Thanks for your commiseration and shared experence, one learns from mistakes like this..hopefully! BTW, thepublic domain distribuion yield has yet to be adjusted for the second dividend miss, so at 5%, it's still artificially high.

 
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