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VelocityShares 3x Long Crude Oil ETNs linked to the S&P GSCI® Crude Oil Index ER New (UWT)

NYSE
Currency in USD
Disclaimer
12.250
0.000(0.00%)
Real-time Data

UWT Comments

Hi All, can I ask what happened after you filed with SEC? Was any action taken or what sort of replies did you get? Thank you.
who is buying this stock right now
Anyone buying an oil ETF? Or staying away?
What is long scenario on this ETN?
Can someone explain why this is a day trade investment? As far as i can tell it traded like any other stock, albeit a bit more volatile. The 52 week price range is 0.16 to just over $ 24.00 - it did not do this in one day. I am not a seasoned investor however, as far as i could see this was actually a fairly safe investment. The way the price is calculated means that the investment could never go bankrupt. The daily price was based on a calculation of the daily oil price - it was a percentage not an absolute dollar amount. I may be wrong but then percentages cannot go to zero?
 David - I believe you meant to say that they produce results " inconsistent " with the underlying security? I very much understand that - I also understand the theory of the fund and how the issuers intended them to be traded.  With all that said - let's look at the reality and not the theory or intent. The 52 week price range was .16 ( 16 cetnts ) to just over $ 24.00 - this is not a one day move - and was loosely following the oil trade. When the fund was closed holders received .16 ( 16 cents ) per unit. What would that unit be worth if and when oil goes to $100/barrel?
They messed up bad!! Ibkearnednthat nonmatter the names and banks.. At the end this was a total gambel.. Very sad
?
the settlement price was 0.1647.. such a disappointment ... :(
Because the United States Securities and Exchange Commission (SEC) authorizes the issue of securities or financial instruments, without support and technical foundations.
Isnt that nice.
What was the reason for delisting the UWT ETF from the issuer CITI GRUP ????
So they could steal our $
Got this from SEC. What does it mean? Will investigation been carried out? Thank you for contacting the U.S. Securities and Exchange Commission (SEC).  We appreciate you providing your comments regarding Citigroup and VelocityShares 3x Long Crude Oil ETN (UWT). The SEC’s Office of Investor Education and Advocacy processes many comments from individual investors and others. We keep records of the correspondence we receive in a searchable database that SEC staff may make use of in inspections, examinations, and investigations. In addition, some of the correspondence we receive is referred to other SEC offices and divisions for their review. If they have any questions or wish to respond directly to your comments, they will contact you. Thank you for communicating your views.  Sincerely,  Cecelia Howell  Lead Investor Assistance Specialist  Office of Investor Education and Advocacy              U.S. Securities and Exchange Commission
In other words they don’t care about all the money we lost.
Liquidation price will be 0.1647 usd per share. my Broker already told me.
my brother got a refund at .163 Saturday ...I`m still waiting
They refund back to me the money invested.
Can I ask at what price point did you buy ? did you get everything back ? my broker is still holding it in the open position, it doesnt show closed. Do i have to call and close it or they will close and cash out ? Could you kindly advice ? please
 the settlement price is 0.1647
 Liquidation price will be 0.1647 usd per share. my money back
I've file complaint to SEC. I think we can do our part to file a complaint to SEC. It may not succeed but at least we made our voice heard by SEC, hopefully action will be taken.
I want to do it also how i could do it i lost a lot of money from this scam
in the last price was .16 you should expect a settlement price of less than .05 from my previous experiences.
B) In fact, Citigroup stopped tracking the related index altogether over a week prior to its March 22 announcement. For several days prior to the acceleration period (March 25 -31) UWT’s price does not appear to correlate with the related index. Furthermore, it appears UWT’s price was suppressed i.e. it was only adjusted downward even when the index was up. C) Despite, Citigroup’s promises and warnings the UWT price did not track the related index subsequent to March 31. In other words, Citigroup’s press release is misleading.
Got this reply from SEC. What does it mean? Will investigation been carried out? Thank you for contacting the U.S. Securities and Exchange Commission (SEC).  We appreciate you providing your comments regarding Citigroup and VelocityShares 3x Long Crude Oil ETN (UWT). The SEC’s Office of Investor Education and Advocacy processes many comments from individual investors and others. We keep records of the correspondence we receive in a searchable database that SEC staff may make use of in inspections, examinations, and investigations. In addition, some of the correspondence we receive is referred to other SEC offices and divisions for their review. If they have any questions or wish to respond directly to your comments, they will contact you. Thank you for communicating your views.  Sincerely,  Cecelia Howell  Lead Investor Assistance Specialist  Office of Investor Education and Advocacy              U.S. Securities and Exchange Commission
Means tuff luck. They don’t care we lost $
However, Citigroup failed to honor its obligations to the UWT ETN holders as follows: A) Between March 25 and 31, when the related S&P index decreased, UWT decreased accordingly. However, when the related index went up, either the price of UWT decreased or did not increase by the 3X it was supposed to. For instance, on March 25, the index rose by 24% - UWT only increased by 22% when it should have risen by 72% (or 3X). On March 31, the index rose by 2% and therefore UWT should have risen by 6% but instead, UWT closed down 4%. Based on Citigroup's own announcements the payout should be $0.30+ per ETN.
Saying that... what about our money?We lose them?
If you want to make a SEC complaint, make the following complaint: On March 19 and then again on March 22 Citigroup announced that it had exercised its right to accelerate the UWT exchange traded note (ETN) stating that UWT ETN holders would receive payment for each ETN based on the closing indicative value (CIV) of UWT as of March 31 – even warning investors that anyone purchasing UWT ETNs subsequent to March 31 at a higher rate than the CIV would be subject to losses. According to Ctigroup’s press releases the UWT CIV was to be calculated as follows: Citigroup would continue to track the related S&P Index between March 25 and March 31 adjusting UWT each day with March 31st price being the final CIV.
I am in for a Class Action Law Suit, I had over a million shares, lost $$$$$. File a complaint against Citi Group at: https://www.sec.gov/oiea/Complaint.html?fbclid=IwAR1lxIO8Ht-_RugZtKdTrnAoVut4tzuo45wHWFYgzNr4hOAlbfMGemkFg24
Wow over 1mm shares of a 3x etf?
alla wagner, can you tell me more about the suit?
What happen here, we got robbed?
i called them they said our broker should have told us. the guy said the accelerated the etn on march 15 ... and we should be paid .163 per share. ********we got robbed no gun just pain of lossing our hard earned money.
that's too bad.. many people lost a lot of money. they kept it with the hope of partial recovery .. so sad ...
:-(
oil went up last minute
looks like settlement somehow at 0.036
Where do you see this?
I thought that said .36 not .036.  I thought it was the average of 5 days from 3-25 to 3-31
That would be .1912
I said here many time when it was 0.27 for people get off, sell the position and move on with their Investiments. I recovered all my money in the market. But people put too much hope on something that is supposed to be for day trade. Feel sorry for people saying that they lost all their savings. it is a painful lesson.
Can you explain why this is considered a day trade investment? As far as i can tell it traded like any other stock, albeit a bit more volatile. The 52 week price range is 0.16 to just over $ 24.00 - it did not do this in one day. I am not a seasoned investor however, as far as i could see this was actually a fairly safe investment. The way the price is calculated means that the investment could never go bankrupt. The daily price was based on a calculation of the daily oil price - it was a percentage not an absolute dollar amount. I may be wrong but then percentages cannot go to zero?
Liquidation price??? read 0.12 and 0.19.... someone can confirm?
...
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