U.S. Markets closed

Short Commodity ETN Spikes

tlydon@globaltrend.com (Tom Lydon)

Another exchange traded product was hit by irregular trading on Friday when a fund designed to bet against commodities briefly surged in price before settling back down.

PowerShares DB Commodity Short ETN (DDP) traded in a wide range between $34.14 and $46.02 a share on Friday, according to data from Nasdaq.com.

The chart below shows the exchange traded note surged above $70 a share at one point but it appears those trades were cancelled.

Earlier this week, two bond ETFs experienced dramatic price moves due to trading glitches. [Bond ETFs Hit by Erratic Trading]

DDP is a relatively small product with $5.6 million in assets and daily trading volume of 10,578 shares, according to Morningstar.

PowerShares DB Commodity Short ETN

The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.