HOLDRs
-This is a product of Merrill Lynch. On their web site
HOLDRs.com they define HOLDRs as trust-issued receipts that represent your beneficial ownership of a specified group of stocks. HOLDRS allow you to benefit from the ownership of the stocks in a particular industry, sector or group. They are a basket of 20 stocks within one sector that can be made as a single investment.What makes HOLDRs different from a mutual fund is that you have the option of redeeming the HOLDRs in 100 share lots and then can walk away with the actual shares of the underlying stocks.
