Market Vectors Double Long Euro ETN (URR)
Market Vectors Double Long Euro ETN operates in the Asset Management - Leveraged industry of the Financial Services sector, headquartered in US. The stock last traded at $14.01, down 8.87% on the session, giving a market capitalisation of $438,121. Its beta of -7.26 implies it has historically moved less than the broad market.
This investment is designed to closely mirror the performance of the Double Long Euro Index, after all operating expenses are factored in. A key characteristic is its two-times leverage, which means the index's value typically responds with double the magnitude to changes in the Euro's exchange rate against the U.S. dollar. Consequently, a 1% appreciation of the Euro generally translates to a 2% increase in the index, while a 1% depreciation typically leads to a corresponding 2% decrease.
Market Vectors Double Long Euro ETN is most often compared with the following Financial Services names: