iPath To Shutter Leveraged S&P 500 ETN (BXDD)

It took more than four months to arrive, but the first ETP closure of 2011 is finally here. The Barclays ETN+ Short D linked to the S&P 500 Total Return Index (BXDD) have been called for redemption after the indicative value fell to a price point that triggers such a move. iPath rolled out its suite of ETN+ products in late 2009, at a time when some investors had expressed frustration over the performance of leveraged products that feature a daily reset of exposure. Rather than reset exposure on a daily basis, the suite of ETNs from iPath sought to deliver leveraged results over the term of the debt securities. BXDD offers inverse exposure to the S&P 500 Total Return Index, with an initial participation value of 3.0x. Like all of the ETN+ products (including BXUB, BXUC, BXDB, and BXDC), BXDD featured a stop loss trigger at $10. So when [...] Click here to read the original article on ETFdb.com. Related Posts: Ten Commandments Of ETF Investing Three Leveraged ETFs Up 50% During The Correction