State Street To Close 5 ETFs

State Street Corp.'s (NYSE: STT) State Street Global Advisors (SSgA), the third-largest U.S. issuer of exchange traded funds, said it will close five of its ETFs next month.

Boston-based SSgA plans to shutter three emerging markets ETFs, a financial services fund and an international real estate ETF.

The five ETFs slated for closure by SSgA are as follows: The SPDR MSCI International Real Estate Currency Hedged ETF (NYSE: HREX), SPDR MSCI South Korea StrategicFactors ETF (NYSE: QKOR), SPDR MSCI Mexico StrategicFactors ETF (NYSE: QMEX), SPDR MSCI Taiwan StrategicFactor ETF (NYSE: QTWN) and the Financial Services Select Sector SPDR (NYSE: XLFS).

“The final day for creations will be November 14, 2016 with the exception of HREX, for which the final day for creations will be November 11, 2016. Trading of all five funds will be suspended on the NYSE Arca at the open of market on November 15, 2016, and proceeds of the liquidation are scheduled to be sent to shareholders on or about November 22, 2016,” according to a statement issued by SSgA.

QKOR is the second South Korea ETF to close this year. Year-to-date, nearly 100 ETFs had shuttered prior to the latest SSgA announcement. SSgA closed a dozen ETFs earlier this year.

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