GreenHaven Continuous Commodity Index ETF
 (GCC)

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  • Mon, Jan. 4, 9:12 AM
    • WisdomTree Investments (NASDAQ:WETF) closes its purchase of GreenHaven Commodity Services, the manager of the GreenHaven Continuous Commodity Index Fund (NYSEARCA:GCC) and the GreenHaven Coal Services Commodity Index Fund (NYSEARCA:TONS).
    • The two ETFs will be rebranded as The WisdomTree Continuous Commodity Index Fund and The WisdomTree Coal Fund, respectively (symbols to remain the same).
    • GCC had $227M in AUM as of year-end, and TONS $1M.
    • Source: Press Release
    | Mon, Jan. 4, 9:12 AM
  • Oct. 30, 2015, 7:41 AM
    • Alongside its Q3 results announced today, WisdomTree (NASDAQ:WETF) agrees to purchase GreenHaven Commodity Funds, the owner of two commodity-related ETFs (GCC and TONS).
    • Consideration is $11.75M in cash. GCC has $247M in AUM and TONS $1M.
    • The financial impact of the deal won't be material to WisdomTree's EPS.
    • Previously: WisdomTree U.S. ETFs see net outflows in Q3 (Oct. 30)
    | Oct. 30, 2015, 7:41 AM
  • Oct. 21, 2015, 11:14 AM
    • With some commodities off 80% from their supercycle highs and others more like 40%, the Bloomberg Commodity Excess Return Index is at lows not seen since 2001's "tech wreck."
    • Among those hit hardest are sugar, nickel, and natural gas, while gold, palladium, and beans have held up better (only on a relative basis).
    • No secret here: China is (by far) the world's largest consumer in nearly every global commodity market, so discerning where that country's demand is headed is key. On that note, the price action in copper - which has a pretty good correlation to China's economy - suggests GDP growth there of just 5% vs. the government's official estimate of 7%.
    • Still, prices for many commodities - copper among them - are approaching the point where they're better left in the ground. The conclusion, says Barclays: A bottom may be in, but we could be on the floor for a long time.
    • ETFs: DBC, DJP, GSG, RJI, GCC, USCI, GSP, GSC, DJCI, DEE, LSC, CMD, UCI, FTGC, DYY, DDP, BCM, UCD, COMT, CMDT, SBV, DPU, PDBC, CSCB, CSCR
    | Oct. 21, 2015, 11:14 AM | 3 Comments
  • Oct. 12, 2015, 9:20 AM
    | Oct. 12, 2015, 9:20 AM | 3 Comments
  • Aug. 31, 2015, 12:30 PM
    • The fund manager best known for its chief Jeff Gundlach and a focus on fixed-income launches the DoubleLine Strategic Commodity Fund.
    • Jeffrey Sherman is the portfolio manager.
    • The Class I shares - with $100K minimum initial investment - has a 1.1% expense ratio. The Class N shares - with $2K minimum initial investment - has a 1.36% ratio.
    • ETFs: DBC, DJP, GSG, RJI, GCC, USCI, GSP, GSC, DJCI, DEE, LSC, CMD, UCI, FTGC, DYY, DDP, BCM, UCD, COMT, CMDT, SBV, DPU, PDBC, CSCB, CSCR
    | Aug. 31, 2015, 12:30 PM | 1 Comment
  • Jul. 31, 2015, 8:13 AM
    • In an effort to increase its influence on global commodity prices, China will allow outside traders to transfer foreign currency or yuan funds into China to trade on its commodity futures markets, signifying a major reform for the world's top consumer of many raw materials.
    • Currently, foreigners have very limited access to China's commodities markets. Companies are only allowed to trade via brokers after establishing a locally registered non-financial unit, which is expensive.
    • Starting August 1, trading or brokerage firms can open special accounts in designated Chinese banks. The funds must be used for trading only.
    • The China Securities Regulatory Commission says that the Shanghai Futures Exchange's crude oil futures will be the first contract available for trading by foreigners. They may also apply for a direct trading license with the exchange. No information on the timing of access to additional futures contracts is available.
    • ETFs: DBC, DJP, GSG, CHIX, RJI, GCC, USCI, GSP, GSC, CHIM, DJCI, DEE, LSC, CMD, UCI, DYY, FTGC, DDP, BCM, UCD, COMT, CMDT, SBV, DPU, PDBC, CSCB, CSCR
    | Jul. 31, 2015, 8:13 AM | 18 Comments
  • Jul. 20, 2015, 8:02 AM
    | Jul. 20, 2015, 8:02 AM | 1 Comment
  • Mar. 17, 2015, 8:10 AM
    • "China’s economic transition and the inability of other emerging markets to pick up the slack are driving slower demand growth across the commodities complex,” says the team at Citi. "The extent of slowdown is likely to vary by commodity.”
    • Hardest hit, says Citi, will be bulk commodities like coal, iron ore, and steel thanks to their exposure to China's manufacturing, infrastructure, and property sectors.
    • Oil consumption growth in China and the "Emerging 5" - India, Southeast Asia, the Middle East, Latin America, and Africa - will be 2.7% from 2014-2020, and 2.3% from 2020-2025 vs. 4% from 2001-2011.
    • The upside from China no longer being as dominant: “Global demand as a whole should become less cyclical as a downturn in one key economy has a lesser impact on overall demand."
    • ETFs: DBC, DJP, GSG, RJI, GCC, USCI, GSC, GSP, RGRC, DJCI, LSC, DEE, UCI, FTGC, CMD, DYY, BCM, DDP, UCD, CMDT, COMT, DPU, SBV, CSCB, PDBC, CSCR
    | Mar. 17, 2015, 8:10 AM
  • Jan. 2, 2015, 9:27 AM
    | Jan. 2, 2015, 9:27 AM | 2 Comments
  • Dec. 31, 2014, 2:17 PM
    • A tough year for commodity prices continues all the way into the close of the last session, with precious metals, energy, grains, and most of the softs slumping sharply. 2014's big commodity winner, naturally, stands alone in the green today - coffee is up 2%.
    • The PowerShares DB Commodity Index Tracker (DBC -1.9%)
    • Alongside the commodity slump, both this year and this session, is a stronger dollar, set to close 2014 out at its highest level in at least five years.
    • ETFs: DBC, DJP, GSG, RJI, GCC, USCI, GSC, GSP, RGRC, DJCI, LSC, DEE, UCI, FTGC, CMD, DYY, BCM, DDP, UCD, CMDT, COMT, DPU, SBV, CSCB, PDBC, CSCR
    | Dec. 31, 2014, 2:17 PM | 1 Comment
  • Dec. 22, 2014, 11:47 AM
    | Dec. 22, 2014, 11:47 AM | 4 Comments
  • Nov. 10, 2014, 2:25 PM
    • The PowerShares DB Optimum Yield Diversified Commodity Strategy Portfolio (NASDAQ:PDBC) offers broad commodity futures contracts through a Cayman Islands-based unit, which allows its investors to avoid K-1 tax forms.
    • This is a key feature to the fund; K-1 forms can be a burden for investors as they potentially delay filings and may require investors to report and pay taxes on gains annually, even if the security has not been sold.
    • This is the 4th actively managed ETF from Invesco (NYSE:IVZ), which now offers 165 funds for investors.
    • Other broad commodity ETFs: DBC, DJP, GSG, RJI, GCC, USCI, GSP, GSC, RGRC, DJCI, LSC, DEE, FTGC, UCI, CMD, DYY, BCM, DDP, UCD, CMDT, SBV, DPU, COMT, CSCB, CSCR
    | Nov. 10, 2014, 2:25 PM
  • Nov. 1, 2014, 10:15 AM
    • With most asset classes at or near record levels, no one seems to want commodities - oil is at just $80 per barrel, gold just took out a multi-year low, and corn is off more than 50% from its 2012 high. Contrarians may want to take a look, writes Andrew Bary in Barron's, noting commodity markets tend to be self-correcting - lower prices cool production and stimulate demand.
    • Low rates help too: The opportunity cost of holding commodities, and the price of rolling forward contracts is reduced.
    • Bary also reminds that much of the institutional money which was in love with commodities in 2008 (with oil at $140 per barrel) has exited. The Harvard endowment, for instance, has scaled back its commodity exposure to zero from 8% six years ago.
    • Another sign of the times: Fidelity cut direct commodity exposure in its Freedom target-date mutual funds last year, with the Fidelity Freedom 2030 fund (MUTF:FFFEX) dropping its commodity weighting to 1.2% from 7.5%.
    • Board commodity ETFs: DBC, DJP, GSG, RJI, GCC, USCI, GSP, GSC, RGRC, DJCI, LSC, DEE, FTGC, UCI, CMD, DYY, BCM, DDP, UCD, CMDT, SBV, DPU, CSCB, COMT, CSCR
    | Nov. 1, 2014, 10:15 AM | 14 Comments
  • Oct. 16, 2014, 2:56 PM
    | Oct. 16, 2014, 2:56 PM
  • Oct. 6, 2014, 3:49 PM
    | Oct. 6, 2014, 3:49 PM | 2 Comments
  • Sep. 30, 2014, 12:07 PM
    | Sep. 30, 2014, 12:07 PM | 10 Comments
GCC Description
GreenHaven Continuous Commodity Index Fund (GCC) is an Exchange-Traded Fund (ETF) that provides an innovative and efficient way to deliver broad based, diversified commodity exposure. It aims to achieve this by using futures contracts to track the Continuous Commodity Index-Total Return (CCI-TR)†. The CCI-TR is an equal weighted index of 17 commodities plus an additional Treasury Bill yield. Because of the equal weighting, GCC offers significant exposure to grains, livestock, and soft commodities and a lower energy weighting than many of its peers. In addition, GCC is rebalanced every day in order to maintain each commodity’s weight as close to 1/17th of the total as possible.
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