The American Stock Exchange is celebrating the 10-year anniversary of the popular exchange traded fund, the MidCap SPDR – Standard & Poor’s MidCap 400 Depositary Receipts.
Since its launch on the Amex in 1995, the MidCap SPDR has seen assets surpass $7 billion and average trading volume rise to 1.5 million shares.
“We are proud of our role in the creation and development of the MidCap SPDR. Product innovation is a hallmark of the American Stock Exchange and we are pleased to have contributed to the success of this important ETF product,” said Neal Wolkoff, Amex Chairman and Chief Executive Officer.
The MidCap SPDR came into existence only two years after the creation of the first ETF in 1993, the Standard & Poor’s Depositary Receipts, which was based on the Standard & Poor’s 500 Index. Today, the Amex lists 155 ETFs, with combined assets in the funds approaching $200 billion.In celebration of the MidCap SPDR’s 10 years in the investment world, the Amex held special events marking the anniversary on May 4, including a special bell ringing ceremony.