An anonymous director reports
HORIZONS ETFS ANNOUNCES THE ESTIMATED NET ASSET VALUE FOR SHARES OF ITS BETAPRO CRUDE OIL 2X DAILY BULL ETF AT ITS 2:30PM EST VALUATION TIME
Following its announcement earlier this morning, due to continuing extreme market volatility in crude oil markets, Horizons ETFs Management (Canada) Inc. has noted that the indicative net asset value per share of the BetaPro Crude Oil 2x Daily Bull ETF as at 2:30 p.m. Eastern Time, when the exposure of the exchange-traded fund was rebalanced to the settlement price of the light sweet crude oil June futures contract, was estimated to be approximately 37 cents per share.
None of the other ETFs offered by the manager are affected by this announcement. Earlier today, the manager announced a temporary suspension of new subscriptions for shares of BetaPro Crude Oil 2x Daily Bull as well as its BetaPro Crude Oil 2X Daily Bear ETF.
The manager will advise as soon as there are any further developments with respect to the ETFs.
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