real-time news and commentary for investors
Tuesday, Oct 1
JPMorgan delisting 3 ETNs
- JPMorgan is delisting three ETNs, but liquidating, i.e., returning cash to investors, just two of them - the Double Short U.S. 10-Year Treasury Futures ETN (DSXJ) and the Double Short U.S. Long Bond Treasury Futures ETN (DSTJ).
- The KEYnotes First Trust Enhanced 130/30 Large Cap Index ETN (JFT), however, is not being redeemed, meaning investors will not get their money back. Instead the shares will be traded over-the-counter, so as poor as liquidity is now (the bid/ask spread is about $20 wide on a $42 security), it will get worse after the delisting. The delisting date is set for "on or about" October 9.