In trading on Thursday, the UltraShort MSCI Pacific ex-Jpn ProShares (JPX) outperformed other ETFs, up about 12.6% on the day. Also showing good gains on such a strange day are the Direxion Daily Financial Bear 3X Shares (FAZ) which was up 12.1%, the Direxion Daily Dev Mkts Bear 3X Shrs (DPK) up about 12.1%, the Direxion Daily Real Estate Bear 3X Shrs (DRV) up 11.99% and the iPath S&P 500 VIX Short-Term Futures ETN (VXX) up 11.94%.
And underperforming other ETFs today is the ELEMENTS BG Large Cap ETN (BVL), down an astonishing 99.0% in Thursday afternoon trading. There seems to be some funny business going on with that one and it has extremely low volume. Also participating in the pity party are the ProShares Ultra MSCI Pacific ex (UXJ) down 39.3% (also on low volume), the Direxion Daily Financial Bull 3X Shares (FAS) down 12%, the Claymore/MAC Global Solar Energy Index ETF(TAN) down 6.5%, the iShares S&P U.S. Preferred Stock Index Fund (PFF) down 6.3%, and the Claymore/AlphaShares China Small Cap Index ETF (HAO) down 6.4%.
About the UltraShort MSCI Pacific ex-Jpn ProShares (JPX)
The investment seeks daily investment results, before fees and expenses, that correspond to twice (200%) the inverse (opposite) of the daily performance of the MSCI Pacific ex-Japan index. The fund invests at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index.
About the ELEMENTS BG Large Cap ETN (BVL)
The investment seeks to replicate, net of expenses, the Benjamin Graham Large Cap Value Index. The index invests in companies based on the investment philosophy of Benjamin Graham, which seeks to identify businesses with strong, liquid balance sheets that trade at a discount to their implied intrinsic value.