Well it was nice while it lasted. I am sure NAV will be like $0.20/share on that day... My main investments in oil were stocks for the long run with OILU as a cherry kicker for shits and giggles.
XOP just did a 4-1 reverse split. I had a bunch of that bought for low so we will see if that helps until oil and gas recovers in the Fall
Your position is exactly the same before and after, they are just trying to keep it liquid with a higher price and value on the shares and avoid what happens if stock trades below $5.
If CL retraces its price perfectly back to $40 or $50, UWT will still only be worth between $0.40 - $0.60 a share. This is due to the math of compounding gains vs losses. You can do the calcs yourself in Excel in a few steps.
%% True; but oil stocks/oil ETFs pay a dividend+ oil does not. Oil can go down a lot more + oil companies can make money sellin' oil by the qt + selling gas. Oil trends much different from oil stocks/ETFs ,which mostly pay a dividend. Good question farmer jon......................................................................
%% IBD/zacks research said ''you could bet on the oil 3X ETFS'' but that was @ $70 oil. BUT for many reasons , including but not limited to, NO dividends-- I would not do it. I do get some thing from my old oil x 3 ETFs charts- but not much. I do more business with XOM, COP,CVX,MRO gasoline. NOT a stock tip. Jim Cramer suggested only one oil stock per person, so I may or may not use one ETF...………………………………………………………………………………………………………………...
It got liquidated today. They announced this two weeks ago. https://www.velocityshares.com/etns/product/uwt/