Creations In UNL & DNO Resume
January 17, 2013
Creations in the United States 12 Month Natural Gas Fund (NYSEArca: UNL) and the United States Short Oil Fund (NYSEArca: DNO) resumed today after having been halted since Jan. 10 due to a regulatory hurdle.
The updated registration statements United States Commodity Funds had to file for both funds in order to comply with a regulatory requirement were declared effective by the Securities and Exchange Commission today, the company said.
Trading and creations were halted on both funds on Jan. 10 following the filing of the updated statements, with trading resuming that same day, but creations remained halted until the SEC rubber-stamped the paperwork.
The New York Stock Exchange again halted trade in the two ETFs this morning for news pending, and resumed trade at 11:25 a.m. Eastern time.
The ETF provider said this regulatory requirement applies at least once every three years, and it’s normal procedure for funds such as UNL and DNO.
The new filings registered just over 8.9 million shares of DNO and 32.9 million shares of UNL.
UNL had about $43 million in assets and DNO had $13.2 million.