BetaPro Crude Oil Inverse Leveraged Daily Bear ETF T.HOD

Alternate Symbol(s): HBTPF

ng of shareholders on July 2, 2020 (see Recent Developments). HOD's investment objective, which became effective at the close of business on July 9, 2020, is to seek daily investment resHOD's investment objective was changed after gaining approval at a meetiults, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to up to two times (200%) the inverse (opposite) of the daily performance of the Horizons Crude Oil Rolling Futures Index (the Underlying Index, Bloomberg ticker: CMDYCLER). HOD is denominated in Canadian dollars. Any U.S. dollar gains or losses as a result of the ETFs investment are hedged back to the Canadian dollar to the best of its ability. In order to achieve this objective, the total underlying notional value of these instruments and/or securities will typically not exceed two times the total assets of the ETF. As such, HOD employs absolute leverage.

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BetaPro Crude Oil Inverse Leveraged Daily Bear ETF

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Post by tinyjon Jan 26, 2009 5:06am

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Post# 15728094

POSSIBLE REASON FOR THE RALLY IN CRUDE...

I got this from the Yahoo finance HOD chat room. It was released Thursday, Jan 22. Food for thoughts ideas?

By David Bird
Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--Plans to fill the U.S. Strategic Petroleum
Reserve to capacity by the end of January 2010, show
peak flows of crude oil into the stockpile of near 230,000 barrels a
day in March, the highest level since December
1984.
The Energy Department on Thursday posted a tentative delivery
schedule for movements of crude oil beginning this month
and ending in January 2010, when the reserve at capacity of 727
million barrels. The highest volume shipped in any
month will be 7.07 million barrels in March, or 228,065 barrels a day.
The Energy Information Administration projects
refiner demand for crude oil will be lower than usual in the first
several months of 2009 due to seasonal maintenance
programs.
The DOE said Friday it will spend $553 million to buy 10.683 million
barrels of crude oil for shipment to the
Strategic Petroleum Reserve from February to April of this year.
The purchases, made with funds raised in the sale of SPR crude after
the 2005 Hurricane Katrina emergency, will be the
first direct buys of crude for the stockpile since 1994.
The direct purchases are part of a move to add 16.8 million barrels
to the emergency reserve.
DOE said it also awarded contracts to transfer a further 6.157
million barrels of oil to the SPR under the royalty in
kind program, at a "modest" rate of 26,000 barrels a day from May 2009
through January 2010.
Under the royalty-in-kind program, crude oil is shipped to reserve
as payment for the rights to produce on oil federal
land, in lieu of cash payments.
The SPR, held in salt caverns along the Gulf Coast, has the capacity
to hold 727 million barrels of oil and is
currently 97% full at 702 million barrels.
DOE issued solicitations on Jan. 2 to buy up to 12 million barrels
for the SPR after Congress last summer blocked any
new acquisitions when prices were sharply higher. Crude prices rose to
near $150 a barrel last summer, but were more
recently near $36.50 a barrel, not far from five-year lows, and making
acquisitions attractive.
Along with the plans detailed Friday, about 7.7 million barrels of
crude is scheduled to be sent to the SPR between
January and May 2009 through repayments of barrels loaned to refiners
after Hurricanes Gustav and Ike hit last September
and the restarting of an earlier round of royalty oil shipments,
which were deferred by Congress until this year.
Taken together, all of the moves would fill the SPR's current
capacity by the end of January 2010. The Energy Policy
Act of 2005 authorizes an increase in SPR capacity to 1 billion
barrels.