In today’s briefing:
- MV Australia A-REITs Index Rebalance: Abacus Storage King Deleted (Finally!)
- MV Global Rare Earth/Strategic Metals Index Rebalance: Two Deletions & Other Changes
- MV Australia Equal Weight Index Rebalance: IDP Education (IEL) & Lendlease Group (LLC) Out
MV Australia A-REITs Index Rebalance: Abacus Storage King Deleted (Finally!)
- Abacus Storage King (ASK AU) will be deleted from the Vaneck Vectors Australian Property ETF (MVA AU) in June. There are float changes and capping changes too.
- Estimated one-way turnover is 3.33% and will result in a one-way trade of A$19m. There are a couple of stocks with over 1x ADV to trade.
- There has been a recent spike in shorts on Abacus Storage King (ASK AU) but passive selling will be larger than the short interest.
MV Global Rare Earth/Strategic Metals Index Rebalance: Two Deletions & Other Changes
- Core Lithium Ltd (CXO AU) and Piedmont Lithium (PLL US) will be deleted from the VanEck Rare Earth/Strategic Me (REMX US) at the close on 21 June.
- Constituent changes, float changes and capping changes result in an estimated one-way turnover of 6.4% and in a one-way trade of US$28m.
- The largest inflows will be in Sociedad Quimica y Minera de Chile (SQM US), Pilbara Minerals (PLS AU), Arcadium Lithium (ALTM US), Lithium Americas (LAC US) and Sigma Lithium (SGML).
MV Australia Equal Weight Index Rebalance: IDP Education (IEL) & Lendlease Group (LLC) Out
- IDP Education (IEL AU) and Lendlease Group (LLC AU) will be deleted from the MV Australia Equal Weight Index at the June rebalance.
- Constituent, float and capping changes will result in a one-way turnover of 5% and in a round-trip trade of A$228m.
- There are many stocks from the S&P/ASX index family that will have same way or opposing flows from VanEck Vectors Australian Equal Weight ETF (MVW AU).
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