What are DIAMONDS?

DIAMONDS (Symbol: DIA)

DIAMONDS trade on the AMEX (AMEX: DIA). The DIAMONDS Trust Series I is a pooled investment designed to provide investment results that generally correspond to the price and yield performance, before fees and expenses, of the Dow Jones Industrial Average. There is no assurance that the price and yield performance of the Dow Jones Industrial Average can be fully matched. Quote for DIAMONDS: DIA

Trading DIAMONDS:

• In January 1998, the AMEX launched DIAMONDS, a unit investment trust based on the Dow Jones Industrial Average. DIAMONDS allow investors to buy or sell shares in an entire portfolio of the Dow Jones Industrial Average stocks as easily as they do shares of a single stock.
• Trading more than 1.7 million shares on its first day of listing, DIAMONDS enjoyed the most successful launch of any exchange product in AMEX history at that time.
• A purchase of shares in this single investment vehicle gives the investor a participation in approx. 1/100th the value of the Dow Jones 30 Industrial Averages. When people are discussing "the market" they are usually referring to the 30 Industrials; the oldest index by far. Diamonds track the market. With the Dow at 10,000 the Diamonds sell at about $100 per share.
• DIAMONDS are Exchange-traded securities that represent ownership in the DIAMONDS Trust, a long-term unit investment trust established to accumulate and hold a portfolio of the common stocks that comprise the Dow Jones Industrial Average.