55 cent NAVFor those who are still confused, this instrument when Horizon's starts issuing subscriptions again, will go to NAV. It is still 100% overvalued.
This instrument is NOT the Price of Oil. It is reflective only of a daily % price move in the underlying contract it is following.
When it was halted and the company issued the press released indicating a NAV of .37 cents a few days ago, there was a period during that day that this had a negative 50 cent NAV. This was due to the fact that the June Crude contract was down more than 50% on the day. Being a 2 x ETF of the price of that June Crude future, it should have been rendered worthless at that time.
Once this realization set in within Horizons, the company, they began issuing press releases warning all of you that this instrument was highly overvalued and your investment was at risk of complete loss.
Without question, even if you are down significantly on this trade, your best option is to sell now before they start issuing subscriptions again.
Hope this clears some confusion up. This again, is not the price of oil, as you may have been lead to believe.
Good luck