VelocityShares Long LIBOR ETN (ULBR)
VelocityShares Long LIBOR ETN operates in the Asset Management industry of the Financial Services sector, headquartered in US. The stock last traded at $7.91, down 18.24% on the session, giving a market capitalisation of $420,258. Its beta of 0.00 implies it has historically moved less than the broad market.
The VelocityShares Long LIBOR ETN is structured to mirror the performance of the Janus Velocity Long LIBOR Index. This Index aims to replicate the daily returns one would achieve from a hypothetical direct investment in the composite forward LIBOR rate, essentially treating that rate as an investable asset. It achieves this objective by strategically taking a hypothetical short position in Eurodollar futures contracts. This short position is dynamically rebalanced each day, ensuring its subsequent day's return closely aligns with the percentage movement of the composite forward LIBOR rate, while also observing a defined long LIBOR floor.
VelocityShares Long LIBOR ETN is most often compared with the following Financial Services names: