RE:RE:RE:RE:Can someone told me what's happen right now???be aware when this opens for trading...
TORONTO, Feb. 6, 2018 /CNW/ - Horizons ETFs Management (Canada) Inc. (the "Manager") has announced today that it will not be accepting any new subscriptions for units of the BetaPro S&P 500 VIX Short-Term Futures™ 2X Daily Bull ETF, which trades on the Toronto Stock Exchange under the ticker symbol ("HVU").
The Manager's decision followed its assessment of the extreme volatility in VIX-futures markets that occurred in after-hours market trading yesterday. The unexpected level of volatility has impaired the trading of the underlying derivatives used by many VIX-related exchange traded products that seek to provide exposure to the S&P 500 VIX Short-Term Futures.
The units of HVU will continue to trade during market hours. The Manager anticipates that the secondary market will continue to provide holders of units with a forum to sell units at a price reflective of the net asset value per unit. However, the Manager anticipates that purchases of new units at the available offer price on the secondary market will not be reflective of the underlying net asset value per unit. As a result, the Manager strongly discourages investors from purchasing new units of HVU at this time. The Manager continues to monitor the trading activities in these underlying derivatives and will advise if any further action on HVU is required in due course.