The United States Short Oil Fund (DNO) will face the same hurdles that tripped up (DXO) and (UNG) as the fund grows. While creation limitations may take a while to kick in, there is a good chance that this fund could be curtailed if it proves to be popular. Early indications, including DNO’s first-day trading volume, seem to indicate that this fund could attract a large number of investors.
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About the new fund (DNO): The investment objective of the Fund is to have the changes in percentage terms of its units’ net asset value inversely reflect the changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the changes in the price of a designated benchmark futures contract on light, sweet crude oil as traded on the New York Mercantile Exchange, less the Fund’s expenses.