Your absolutely correct fred. I would short the hell out of this if I had the powder. The fundamentals are not strong and oil has not stabalized. I would love to jump in but now is not the right time people.
Hi Lunco- I attributed the price decline to many valid posts made here; however the larger institutional players, trading a thinly ETN, can easily manipulate for personal gain, which in part happened Friday. That said, great opportunity (once recognized) and profit from it. We're going back up to $24 by Ex-date.
I would cautiously buy in. Bought a 100 at 22.35 myself. The fundamentals of the fund haven't changed, no threat to the divi, when things become irrational, good time to buy. Will unload the 100 once things rebound.