=DJ Deutsche Bank Halts Issuing New Shares Of Dollar ETF
. . By Ian Salisbury . Of DOW JONES NEWSWIRES .NEW YORK (Dow Jones)--Deutsche Bank AG (DB, DBK.XE) said Thursday that the PowerShares DB US Dollar Index Bullish Fund (UUP) had run out of new shares and wouldn't be able to issue any more until it gets clearance from the Securities and Exchange Commission.
The move could lead the $822 million exchange-traded fund, which helps investors bet on the U.S. dollar against a basket of foreign currencies, to trade at a price that is substantially higher than its underlying value.
A number of ETFs that follow commodities like oil and natural gas have also had to suspend issuing new shares amid worries speculators are driving up commodity prices. It wasn't immediately clear why a currency fund would face the same problem.
-By Ian Salisbury, Dow Jones Newswires; 212-416-2241; ian.salisbury@dowjones.com .
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(END) Dow Jones Newswires
November 05, 2009 14:09 ET (19:09 GMT)
5 comments:
Bizarre. It messes up the TA on UUP. Now I'll have to look at DXY.
the problem is that euro currencies are trading as one economic trading block, and the asian currencies are trading as another.
I'm going to work on a post here..
Did Guy just say to Melissa Lee "Every night we go to starbucks and get a cookie and a Brownie.. and I have both!"
I'm starting to warm up to your they are fucking thesis.
Is Melissa the cookie or the brownie?
all we found out is the guy is the cookie and the Brownie.
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