What is your take on oil prices and oil related investments?
Have we seen the bottom of the oil price drop?
UWTI uses forward contracts based on the price of oil. When oil prices goes up, UWTI goes up.
Business Description:
The investment seeks to replicate, net of expenses, three times the daily performance of the S&P GSCI Crude Oil Index ER. The index comprises futures contracts on a single commodity and is calculated according to the methodology of the S&P GSCI Index.
Is this a worthwhile investment over a 5 year term?
UWTI went to over 662 dollars in February 2012. It is currently trading at less than $1.70.