Barclays Bank PLC iPath ETNs linked to the MSCI India Total Return Index (INP)

All Comments on INP

  • commenter
    Drenched
    Alaskan
    Dec 11 09:50 PM
    An ETN Behaving Badly: INP [view article]
    Thanks for the insightful and for me, very timely, article. I transferred all my INP to IFN practically seconds before the Fed news came out. Looking at the yawning spread in the chart a few minutes later, it felt like I had jumped off a crumbling landslide to solid rock. IFN and AT&T were the only equities up for the day in my portfolio. Reply
  • commenter
    Komer
    Dec 11 10:12 AM
    An ETN Behaving Badly: INP [view article]
    Thanks for the informative article.
    It would be interesting to analyze why only INP is behaving signifincantly differently than other securities such as IIF and IFN.
    Reply
  • commenter
    Jamiml
    Dec 10 06:52 PM
    An Interesting Development With India Funds [view article]
    IFN is now only at a 4% discount, if that. INP has not moved. Reply
  • commenter
    Karl F.
    Dec 10 04:13 PM
    An Interesting Development With India Funds [view article]
    To conclude the discussion if this stock can be shorted:
    Today I again placed a short order with Interactive Brokers. The order was accepted immediately and executed at the limit price.     Reply
  • commenter
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    Dec 09 06:56 AM
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  • commenter
    Karl F.
    Dec 09 05:48 AM
    An Interesting Development With India Funds [view article]
    David Fry: I didn't place the short order in a test account, but as a limit order in a real account. It was accepted immediately. With "testwise" I mean that I canceled the order before execution because the exaggeration doesn't seem to have run its course.
    Maybe I'll try again and wait for the execution.     Reply
  • commenter
    alfalfap
    Dec 08 11:35 AM
    Monthly ETF Update by Asset Class [view article]
    Ditto floridadon :the graphics on the charts are not legible especially the ETF symbols. Reply
  • commenter
    David Fry
    Dec 08 07:33 AM
    An Interesting Development With India Funds [view article]
    It's interesting the situation got even more stretched yesterday as someone unloaded some blocks in IFN yesterday slamming the stock. In the meantime, INP kept running higher and no doubt expanding the premium.

    Reply
  • commenter
    David Fry
    Dec 08 07:24 AM
    An Interesting Development With India Funds [view article]
    The short interest was 14% in September but that was before the ban on new shares being issued. One explanation for the current rise could be short covering. Reply
  • commenter
    EricPeterson
    Dec 07 05:51 PM
    An Interesting Development With India Funds [view article]
    I've been watching very closely this ridiculous rise in the premium for INP for the past couple weeks, up to 20% now. With IFN holding many of the same stocks, and trading at a discount of 10% or so, I decided to place a large arbitrage trade on Wednesday. I called Fidelity to short 3,000 shares (about $300,000) of INP, with the plan of buying $300,000 of IFN if successful in shorting INP. If the 30% spread narrows, to say 20%, that's a nice $30,000 profit with little risk. Doesn't matter if the Indian market goes up or down.

    But after talking to two different brokers who in turn talked to the trading desks and short specialists, they told me Fidelity has no INP shares to short. Well, the short interest in INP in September was 14% of the total outstandings shares. Who are the people who are able to short INP? Is it a special privilege given to institutions, and not to "small traders" like me who want to short $300,000? Very mysterious. Fidelity customers must own millions of dollars worth of INP. I can't believe there are none available for shorting.     Reply
  • commenter
    David Fry
    Dec 07 02:47 PM
    An Interesting Development With India Funds [view article]
    You're on the money ETNMAN. I received word of this last night after I published my observations and analysis. I should have gone more deeply into the prospectus to catch this update.

    Further, I was aware of the crackdown SEBA had "proposed" on foreign fund flows but didn't connect the dots regarding how this might either affect an "index" or a derivative like ETN.

    Nevertheless, despite these shortcomings, the situation between IFN and INP remains favoring the former for investors.

    Despite an email to Barclay's regarding this situation there has been no response--"dummy up" I guess.

    KarlF, you can short anything in a "test" account.     Reply
  • commenter
    IndiaObserve
    r
    Dec 07 12:30 PM
    An Interesting Development With India Funds [view article]
    Thank you, ETNMAN. That partly explains why INP is trading at a premium, while IFN/IIF trade at a discount. Investors in INP are clearly doing the wrong thing. But arbitrageurs can't take advantage of the mispricing because there is no telling when INP will begin trading at its NAV.
    Reply
  • commenter
    Karl F.
    Dec 07 12:04 PM
    An Interesting Development With India Funds [view article]
    Thanks for the background information. I just learned the difference between ETN and ETF. INP is just an unsecured debt instrument. People who buy that stuff right now really do not realize that the link to the MSCI India index is broken and that they could buy into the same underlying assets for close to 30% less by buying the IFN, with the added security that investment is backed by real India shares and not only by Barclay's good name.
    By the way, I was able to place a short order (testwise) through Interactive Brokers without any problems.     Reply
  • commenter
    floridadon
    Dec 07 11:32 AM
    Monthly ETF Update by Asset Class [view article]
    Even when enlarged the graphics are difficult to read. It is to bad an article with this much info is not supported with more visible graphics. Reply
  • commenter
    jct
    Dec 07 11:07 AM
    An Interesting Development With India Funds [view article]
    very interesting Reply
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