Guggenheim Solar exchange-traded fund dumped its entire stake in Hanergy Thin Film Power Group, despite the group’s shares not having traded in six weeks.
The formerly high-flying stock has remained frozen out of trading since the company lost $19 billion in market cap on a single day last month.
Guggenheim sold in “the best interest of ETF shareholders”
Guggenheim, which operates three exchange traded funds that included HTF, said it had offloaded its stock in Hong Kong though did not give a price. Guggenheim said that the company felt it was wiser to take the price on offer now rather than risk the shares falling further.
HTF’s success...
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