Take a look at EVEP. They took a similar hit today on no news. Aside from the general sell off recently in the commodity complex my guess is this could be related to the push to strip oil companies of their tax deductions. While the Senate Democrats have been working on something today that would just target the top 5 oil producers, this sell off could be related to that uncertainty.
I assume this is same thing that happened in 2008 -- didn't own vnr back then, but assume it was similar to every other MLP, lots of shares were owned by hedge funds, etc with borrowed money to capture yield spread -- when price of oil started to fall or funds needed to reduce margin, shares were hammered with no regard for fundamentals at all. might be something that lasts through summer, or might not -- enjoy the increased distributions and be ready to pick up some more shares.
a lot of butt's are getting kicked today. ugggggggly. I've lost a lot of paper value in the past few days...ouch.
Man, is this going to continue for a while and be a long term pain (like 2000), or bounce back quickly....sell, or stay?
If the US$ continues to rise against other currencies, which many folks are calling for now, then commodities could fall for an extended time...and more than likely MLP's along with them. Take profits and hope for a great buy in point again like 2009?
I don't know a thing wrong with it other then the price of oil is falling but I think they are pretty well hedged, and the price of oil is still where they are making a huge profit, if there not that well hedged, this price action is crazy thats a huge drop