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The Untied States Oil Fund (USO) dropped 25% on Tuesday as managers made multiple changes to the fund’s structure in an effort to stave off additional losses.
The fund, which trades under the ticker USO is popular with retail investors, seeks to track the price of the front month WTI oil futures price.
The fund will now invest in multiple futures contract expirations, rather than focusing on the contract for the nearest month.
In todays video I answer a lot of questions from yesterdays video explaining what it meant that the oil price was negative. You can watch that video here.
I explain what an ETF is, how they work, and what might happen if the ETF becomes disconnected from its NAV.
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