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Crude oil ETF starts trading

2006-04-10-uso-starts-trading.PNG

The first crude oil-based ETF (ticker USO) started trading today on the American Exchange. This ETF is designed to track the price of U.S. benchmark crude oil and would probably become a hot favorite among “black-gold bugs”.

The figure shows the trading action for this first day. A substantial 3.8 million shares were traded.

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    This entry was posted on Monday, April 10th, 2006 at 2:15 pm and is filed under ETF, Investing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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    One Response to “Crude oil ETF starts trading”

    1. Indexfundfan @ Indextown » Contango and backwardation Says:
      September 13th, 2006 at 12:54 pm

      [...] Investors interested in commodity futures investments should at least have some understanding of the concept of contango and backwardation. This article from Smartmoney tries to explain this with reference to the newly listed crude oil ETF. [...]

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