Strong demand for instruments that take bullish positions on the dollar prompted one such exchange-traded fund to be halted after it recently ran out of shares.
DB Commodity Services, which offers the U.S. Dollar Index Bullish Fund, said in a prepared statement that it had asked the Securities and Exchange Commission for permission to create 240 million additional shares of UUP in order "to manage exceptional investor demand."
The fund faced a similar situation in November when trading of the fund was halted as it filed to create 100 million new shares.
"With UUP, we've just seen such a flood of assets that this is now the second time this happened in two months," Bradley Kay, an ETF analyst at Morningstar told The Wall Street Journal. (more)
No comments:
Post a Comment