Van Eck Global, a New York-based asset management company, started an exchange-traded fund called the Market Vectors Russia Small-Capitalization ETF that began trading today.
The ETF traded at $24.86 at 11:21 a.m. in New York, up from an opening price of $24.65, according to data compiled by Bloomberg.
“The oil price is the biggest swing factor for Russia,” said David Semple, Van Eck Global’s director of international equity and fund manager of Van Eck Emerging Markets Fund, told reporters today in New York. “We do see relatively solid crude outlook.”
Crude oil for May delivery increased 0.6 percent to $107.71 a barrel on the New York Mercantile Exchange. Prices have climbed 15 percent this year.