(“Call Settlement Amount”) on January 17 but will allow the ETNs to stay listed and continue trading until January 22. The ETNs will then be redeemed, and any remaining investors will be paid on January 23.
These are the first two ETP closures of 2014. The reason for freezing the value with two days of listed trading still remaining is unclear. However, shareholders should trade carefully those two days and not sell at a discount to final value (or purchase at a premium).
The two ETNs have assets of less than $11 million each. OILZ has long been on ETF Deathwatch, but GASZ escaped that designation due to having sufficient trading activity.
This article is brought to you courtesy of Ron Rowland from Invest With an Edge.