New ETFs On The Block: SPDR S&P 500 Buyback ETF (SPYB)

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The US economy is facing a strange situation; while corporate profits reached record highs, economic activity still remains subdued along with considerable slack in capacity utilization. In the absence of capex opportunities, many companies are undertaking share buybacks to trim balance-sheets and boost EPS/returns. Also, buybacks are more tax efficient for investors than a special dividend. Data by FactSet shows …