Started Feb.07,2012 with net assets of $832M, the shares were issued at $50 which comes to
832m/$50=16.65m shares at that time.
oil is down (110-28)=82$ that is 82/110=75% so the fund lost75%x3=225%
To keep the $ value of the fund at $832m, they did a reverse split, sold more shares to cover
for Adm. cost and decline in oil price.
Where do they come from??????
this ETN started in 2012 with assets $800,000000 At $50/share. the volume was less than 5000 shares per day .there was 10:1 reverse split that should reduce the #of shares.
you can check the price history on Yahoo you will see what I mean.
do they rebalance the fund and issue more shares?????
people don't want to wait until next year to get a higher price. and if you wait you will get the $9 and may be
less or more??????
Not a penny less.
Merry X-mass and a happy NY
the extract from the article:“Stefano Pessina is a very savvy businessman. He wouldn't have made this move unless he had already done all his due diligence,” said Kris Shankar, a California resident and Rite Aid shareholder.
“I think it will go through, because Walgreens has made it clear they will shed a lot of stores to make it go through,” Shankar said.
In a report filed Nov. 2 with the U.S. Securities and Exchange Commission, Walgreens said it is willing to divest itself of up to 1,000 stores if needed, but expects “the most likely outcome” would be the divestiture of fewer than half that many locations.
No. 1 U.S. chain Walgreens and No. 3 Rite Aid may have another major factor in their favor: No. 2 CVS Health Corp. set a precedent earlier this year with its own $1.9 billion deal to buy Target Corp.'s pharmacies and clinics.
Not only is that a major transaction in its own right, but it also further blurs the line between drugstore chains and retailers with pharmacies, such as grocery stores.
“There's plenty of pharmacy competition out there,” Gorland said, adding that while he certainly expects scrutiny, mega-mergers between top brands have recently succeeded.