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Why would you buy this. Its going to

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Rob~daBanca Member Level  Tuesday, 03/17/20 03:06:29 PM
Re: molee post# 13
Post # of 53 
Why would you buy this. Its going to stop trading.
It will dive to .50 or lower in the next few days

https://www.etf.com/OILU

"The fund is closing. The last day of trading is March 27, 2020." Like most geared products, OILU is intended as a trading tool, not a buy-and-hold investment. The fund provides 3x exposure to its index for a one-day period. The daily reset function means investors holding OILU for longer periods are exposed to the effects of compounding, and could see returns that vary greatly from 3x exposure. OILU’s Bloomberg index tracks WTI crude contracts that are rolled every other month, striking a balance between spot-price sensitivity, turnover, and contango effects.As a commodity pool, OILU will issue a K-1 form at tax time. Taxable investors will pay a blended rate (60% LT/40% ST) on capital gains, realized or not. OILU provides the same exposure as sibling WTIU, which is organized as an ETN. OILD is OILU’s 3x-inverse counterpart.

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