United States Commodity Funds (USCF) has listed a short oil fund on NYSE Arca, as the price of oil declines.
The exchange-traded security is designed to inversely reflect the movements in the price of light, sweet crude oil. As a result, the security benefits when the price of oil falls. Crude oil fell to an eight-week low in New York on Thursday, according to Bloomberg, while crude oil for November stands at around $65 a barrel in trading on the New York Mercantile Exchange (Nymex). The net asset value of the security aims to inversely mirror the performance of changes in the spot price of light, sweet crude oil, as measured by the changes in the price of these crude oil futures contracts o...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes