That thing was trading around 16.40-16.50 last night (7:30ish) and I looked at TWS and it was 16.00x16.14, so I put in a small order at the ask and got a partial fill! Couldn't believe it. Remember its a leveraged so it moves kinda crazy at times.
All the "Ultra" ETF's suck. They rarely trade 2x the benchmark. Too much betting and hedging going on.
Nonsense. The Ultra ETFs are very useful, especially for those with no access to futures. But they are for traders, NOT holders.