Whopper splits coming up for VelocityShares’ XIV and ZIV

Evidently the folks at VelocityShares decided that the shares of their inverse volatility offerings were way too pricey, because they are splitting their short term fund, XIV ten to one, and their medium term fund, ZIV by eight to one.  Based on today’s closing prices of 167 for XIV and 132 for ZIV, they will both end up priced at around $16.50 after end of …

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OILZ and GASZ—snacking on oil and natural gas contango

In the past, I have been an active investor in oil via the USO ETF, but I stepped aside because of USO’s poor performance in tracking the spot price of oil.   The reason for the poor performance was not a mystery—oil futures have been in steep contango,  with the front-month price lower than subsequent delivery dates.  When USO rolls their contracts into longer-dated contracts …

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