VelocityShares 3x Inverse Crude Oil ETN (DWT)

[Smittle]

Delisted crude-oil play ETNs get replacements from Citigroup

WallaceWitkowski

Published: Dec 8, 2016 5:50 p.m. ET

Credit Suisse's Velocityshares 3x Long Crude ETN UWTI, +5.89% and VelocityShares 3x Inverse Crude ETN DWTI, -0.85% were delisted at the close of markets Thursday, but Citigroup plans to launch two exchange-traded notes for betting on oil prices on Friday. The Velocityshares ETNs gained popularity with young traders as a way to play the gyrations in the price of crude oil over the past year. While UWTI closed up 5.9% on Thursday, it was also down 38% for the year. The DWTI finished Thursday down 5.5%, and was down 75% year to date. The new Citigroup notes will go by the same names but be listed under the tickers "UWT" and "DWT" respectively.

http://www.marketwatch.com/story/delisted-crude-oil-play-etns-get-replacements-from-citigroup-2016-12-08?siteid=yhoof2