Oct. 1, 2013, 1:13 PM
- 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.
Feb. 8, 2013, 3:23 PM
ProShares lowered fees yesterday on its Credit Suisse 130/30 ETF (CSM) to 0.45% from an earlier 0.95%. ProShares is the first to cut fees for ETFs in this class, where investors are looking to outperform large-cap indexes. The fund's also getting a truer name (ProShares Large Cap Core Plus), but no change to holdings and strategy. Competitors: JFT, HDG, ALFA, GURU| Feb. 8, 2013, 3:23 PM
May 29, 2008, 4:05 PM