|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Thu, 13th Aug 2020 14:29:00 |
|
Credit Suisse to Liquidate Natural Gas ETN That Went Parabolic |
Credit Suisse Group AG plans to liquidate a leveraged inverse natural gas exchange-traded note that jumped in recent days and became disconnected from the value of its assets.
The VelocityShares Daily 3x Inverse Natural Gas ETN, which had already seen securities issuance suspended on June 22 and been delisted from the NYSE Arca exchange on July 12, will be liquidated on Aug. 25, according to a statement from Credit Suisse. There are 305,400 securities outstanding, according to data compiled by Bloomberg.
Read More: Triple-Leveraged Gas ETN’s 3,900% Premium Signals Broken Pricing
The ETN has gone parabolic in the past few days. In recent years the price hadn’t risen above $600, but it advanced in each of the past five sessions with percentage increases of 35%, 34%, 29%, 223% and 400%, and closed on Wednesday at $15,000. That compares with the note’s net asset value of $124.01. The market cap is $4.58 billion, versus total assets of $37.9 million.
Read original full article
|
| |
|
|
Back to Featured Articles
|
|
|
|
|
|
|
|
|
|
|
|
Energy News
|
|
| |
| |
