Barclays’ IVO bites the dust

IVO,  one of Barlays’ inverse volatility ETNs terminated today when it briefly dipped below its $10 termination value.  The automatic redemption value will be $11.8024 next Monday, the 19th.   IVO was designed to behave as a true short of the short term volatility index SPXVSP ( fundamentally the same index that VXX tracks).  This approach avoids the potential path dependency / compounding errors of percentage …

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