SLR 4.20% $1.24 silver lake resources limited

GDXJ removal?

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    From the GDXJ SEC filing

    The Junior Gold Miners Index (the “Junior Gold Miners Index”) is a rules based, modified capitalization weighted, float adjusted index intended to give investors a means of tracking the overall performance of publicly traded companies of small-and medium-capitalization that are involved primarily in the mining for gold and/or silver. The Junior Gold Miners Index includes common stocks and depositary receipts of U.S. and foreign companies that are involved in mining for gold and/or silver and that are listed for trading on a leading stock exchange.

    Constituent stocks for the Junior Gold Miners Index must have a market capitalization of greater than $150 million on a rebalancing date to be eligible for the Junior Gold Miners Index. Stocks whose market capitalization falls below $75 million as of any rebalancing date will no longer be eligible for the Junior Gold Miners Index. Stocks must have a three-month average daily trading volume of at least $1 million to be eligible for the Junior Gold Miners Index and issuers of such stocks must have traded at least 250,000 shares each month over the last six months. Only shares that trade on a recognized domestic or international stock exchange may qualify (e.g., National Stock Market stocks must be “reported securities” under Rule 11Aa3-1 of the Exchange Act. Similar criteria and standards apply to stocks with foreign listings).

    The Junior Gold Miners Index is calculated and maintained by Structured Solutions AG on behalf of 4asset-management GmbH. 4asset-management GmbH is not affiliated with the Fund. Index values are calculated daily and are disseminated every 60 seconds between the hours of approximately 9:30 a.m. and 4:15 p.m. (Eastern time).

    The Junior Gold Miners Index is calculated using a capitalization weighting methodology, adjusted for float, which is modified so as to ensure compliance with the diversification requirements of Subchapter M of the Internal Revenue Code. The Junior Gold Miners Index is reconstituted quarterly, at the close of business on the third Friday in a quarter-end month (i.e., March, June, September and December) and companies are added and/or deleted based upon the Junior Gold Miners Index eligibility criteria. Companies with recent stock exchange listings, i.e., recent initial public offerings, may be added to the Junior Gold Miners Index on a quarterly basis, provided the companies meet all eligibility criteria and have been trading for more than 10 trading days. The share weights of the Junior Gold Miners Index components are adjusted also on a quarterly basis (every third Friday in a quarter-end month).


    So the question is... was SLR removed from the GDXJ index last Friday, as its M/Cap fell below $75 million (this would explain the enormous volume traded on Friday). And if so, what happens to the remaining shares that Van Eck still hold after the rebalance? Note: there has been no official change in substantial holding notice from Van Eck or anyone else for that matter (yet).
    As at 19/6/15, their website states the number of shares held as below but perhaps most of these were sold on the same day? Happy to stand corrected if anyone has any further info on this.

    Column 1 Column 2 Column 3
    1 Silver Lake Resources Ltd SLR AU 34,339,334
    http://www.vaneck.com/market-vectors/equity-etfs/gdxj/holdings/
    Last edited by elphamale: 22/06/15
 
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Last trade - 16.10pm 28/03/2024 (20 minute delay) ?
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