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Units of interest in the diamonds trust, a unit investment trust that serves as an index to the Dow Jones Industrial Average in that its holdings consist of the 30 component stocks of the Dow.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


1. A unit investment trust in which the underlying asset is the Dow Jones Industrial Average. That is, diamonds are shares in a closed-end index fund tracking the DJIA. It is traded on the American Stock Exchange. It operates much like an exchange-traded fund, but, like all unit investment trusts, it has an expiration date, while ETFs do not. Its ticker symbol is DIA.

2. A valuable commodity consisting of very hard gem stones used in jewelry and tools. Diamonds may be traded on any of a number of exchanges. See also: Blood diamonds.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


A DIAMOND is an index-based unit investment trust (UIT) that holds the 30 stocks in the Dow Jones Industrial Average (DJIA). It's similar in structure to an exchange traded fund (ETF).

Investors buy shares, or units, of the trust, which is listed on the American Stock Exchange (AMEX) as DIA. The share price changes throughout the day as investors buy and sell, just as share prices of stocks do.

That's in contrast to open-end mutual funds whose share prices change just once a day, when trading in their underlying investments ends for the day.

Part of the appeal of DIAMOND shares is that the trust mirrors the performance of its benchmark index for dramatically less than the cost of buying shares in all 30 stocks in the DJIA.

A DIAMOND share trades at about 1/100 the value of the DJIA. So, for example, if the DJIA is at 11,500, shares in the trust will be priced around $115.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
The company also offers exquisite and beautiful jewellery as part of various brands presented at Malabar Gold & Diamonds, namely Ethnix - Handcrafted Designer Jewellery, Era - Uncut Diamond Jewellery, Mine - Diamonds Unlimited, Divine- Indian Heritage Jewellery, Precia - Gem Jewellery and Starlet - Kids Jewellery.
Many of CDGI's International Diamond Trade Clientele further engaged CDGI's world class artisans to cut/polish their acquired Premium Rough Diamonds to the highest specifications within the Trade to achieve maximum value from the corresponding Premium Rough Diamonds.
The KPCS is the process established in 2000 to prevent "conflict diamonds" from entering the mainstream rough diamond market by United Nations General Assembly Resolution 55/56 following recommendations in the Fowler Report.
The work "gives us the first strong constraint on how gem diamonds grow," says Thomas Stachel, a petrologist at the University of Alberta in Canada who was not part of the research.
How rare are colored diamonds? Landau says mines hold auctions once a year, and this year only 65 pink diamonds, with an aggregate weight of 9 grams, were sold from Rio Tinto's Argyle mine in western Australia, which produces 90% of the world's pink diamonds.
The Petra Diamonds (owners of the Cullinan Mine in South Africa) had announced the discovery of the 29.62-carat rough blue diamond in January 2014.
Blue diamonds are among the rarest and most highly coveted of all diamonds and the Cullinan mine is the most important source of blues in the world.
com ) Marlow's Diamonds is one of the UK's leading certified diamond experts, specialising in diamond engagement rings, eternity rings, multi-stone rings and platinum wedding bands.
As reported last week, the company will exchange jewellery and the diamonds will be bought back at the ruling diamond prices and gold too will be purchased at the prevailing market rates providing a copy of the bill in retained alongside the certificate and, of course, the jewellery is maintained in good condition.
Why invest in diamonds? For a start, they're fetching record prices.
A diamond cluster ring worth pounds 300 and a letter 'A' pendant with diamonds on a gold chain worth pounds 300 is also missing.