Middlefield Announces Approval of Proposed Changes to Reduce ESG Limitations for Two ETFs
Changes to Funds: Middlefield Limited announced that unitholders voted unanimously to revise the names, investment objectives, and strategies of the Middlefield Sustainable Global Dividend ETF and Middlefield Sustainable Infrastructure Dividend ETF, de-emphasizing ESG factors in favor of other financial metrics.
Industry Trends: The move aligns with a broader trend among asset management companies to reduce emphasis on ESG mandates, as evidenced by research from Morningstar and recent regulatory changes by the Canadian Securities Administrators regarding ESG-related funds.
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Unusual Volume Alert: MDIV ETF on Tuesday
ETF Trading Highlights: The ETF with the highest volume on Tuesday included AT&T, which rose by 0.7% with over 19.3 million shares traded, and Regions Financial, up 0.3% with over 16.8 million shares exchanged.
Top and Bottom Performers: Western Union was the best-performing component of the ETF, increasing by 3.8%, while Northwest Bancshares lagged, declining by 5.6%.
Wednesday's ETF with Unusual Volume: MDIV
ETF Performance Overview: On Wednesday, Huntington Bancshares saw a slight decline of 0.2% with over 19.2 million shares traded, while Pfizer increased by 0.8% on 13.9 million shares. Bristol-Myers Squibb led the components with a gain of 1.8%, whereas Prudential Financial dropped by 1.6%.
Market Commentary: The opinions expressed in the article are those of the author and do not necessarily represent Nasdaq, Inc.
Friday's ETF with Unusual Volume: MDIV
ETF Performance Overview: On Friday, AT&T and Pfizer saw declines in trading volume, with AT&T down 2.4% and Pfizer down 1.2%, while Omega Healthcare Investors gained 2.1% and Bristol-Myers Squibb fell by 3.2%.
Market Insights: The article reflects the author's opinions on ETF performance and does not necessarily represent Nasdaq's views.
Wednesday's ETF with Unusual Volume: MDIV
ETF Performance Overview: On Wednesday, Pfizer and AT&T saw declines in trading volume, with Pfizer down 2.7% and AT&T down 0.3%, while Cal-Maine Foods experienced a slight increase of 0.4%.
Market Insights: Eversource Energy was noted as the weakest performer among the ETF components, dropping by 2.9%.
Middlefield Announces Approval of Proposed Changes to Reduce ESG Limitations for Two ETFs
Changes to Funds: Middlefield Limited announced that unitholders voted unanimously to revise the names, investment objectives, and strategies of the Middlefield Sustainable Global Dividend ETF and Middlefield Sustainable Infrastructure Dividend ETF, de-emphasizing ESG factors in favor of other financial metrics.
Industry Trends: The move aligns with a broader trend among asset management companies to reduce emphasis on ESG mandates, as evidenced by research from Morningstar and recent regulatory changes by the Canadian Securities Administrators regarding ESG-related funds.
Middlefield Announces Intention to Revise Names and Reduce ESG Limitations for Two ETFs
Change in Investment Strategy: Middlefield Limited plans to de-emphasize ESG factors in its Sustainable Global Dividend ETF (MDIV) and Sustainable Infrastructure Dividend ETF (MINF), shifting focus towards valuation, growth projections, and management quality while still considering ESG criteria.
Unitholder Meeting Announcement: A special meeting for unitholders will be held on January 30, 2025, to approve the proposed changes, with further details to be provided in an information circular prior to the meeting.
Unusual Volume Alert: MDIV ETF on Tuesday
ETF Trading Highlights: The ETF with the highest volume on Tuesday included AT&T, which rose by 0.7% with over 19.3 million shares traded, and Regions Financial, up 0.3% with over 16.8 million shares exchanged.
Top and Bottom Performers: Western Union was the best-performing component of the ETF, increasing by 3.8%, while Northwest Bancshares lagged, declining by 5.6%.
Wednesday's ETF with Unusual Volume: MDIV
ETF Performance Overview: On Wednesday, Huntington Bancshares saw a slight decline of 0.2% with over 19.2 million shares traded, while Pfizer increased by 0.8% on 13.9 million shares. Bristol-Myers Squibb led the components with a gain of 1.8%, whereas Prudential Financial dropped by 1.6%.
Market Commentary: The opinions expressed in the article are those of the author and do not necessarily represent Nasdaq, Inc.
Friday's ETF with Unusual Volume: MDIV
ETF Performance Overview: On Friday, AT&T and Pfizer saw declines in trading volume, with AT&T down 2.4% and Pfizer down 1.2%, while Omega Healthcare Investors gained 2.1% and Bristol-Myers Squibb fell by 3.2%.
Market Insights: The article reflects the author's opinions on ETF performance and does not necessarily represent Nasdaq's views.
Wednesday's ETF with Unusual Volume: MDIV
ETF Performance Overview: On Wednesday, Pfizer and AT&T saw declines in trading volume, with Pfizer down 2.7% and AT&T down 0.3%, while Cal-Maine Foods experienced a slight increase of 0.4%.
Market Insights: Eversource Energy was noted as the weakest performer among the ETF components, dropping by 2.9%.
Middlefield Announces Approval of Proposed Changes to Reduce ESG Limitations for Two ETFs
Changes to Funds: Middlefield Limited announced that unitholders voted unanimously to revise the names, investment objectives, and strategies of the Middlefield Sustainable Global Dividend ETF and Middlefield Sustainable Infrastructure Dividend ETF, de-emphasizing ESG factors in favor of other financial metrics.
Industry Trends: The move aligns with a broader trend among asset management companies to reduce emphasis on ESG mandates, as evidenced by research from Morningstar and recent regulatory changes by the Canadian Securities Administrators regarding ESG-related funds.
Middlefield Announces Intention to Revise Names and Reduce ESG Limitations for Two ETFs
Change in Investment Strategy: Middlefield Limited plans to de-emphasize ESG factors in its Sustainable Global Dividend ETF (MDIV) and Sustainable Infrastructure Dividend ETF (MINF), shifting focus towards valuation, growth projections, and management quality while still considering ESG criteria.
Unitholder Meeting Announcement: A special meeting for unitholders will be held on January 30, 2025, to approve the proposed changes, with further details to be provided in an information circular prior to the meeting.
