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VelocitySharesTM 3x Long Crude Oil ETN (UWT) Fund Closure

VelocitySharesTM 3x Long Crude Oil ETN (UWT) Fund Closure, featured by Top Securities fraud Attorneys, The White Law Group

VelocitySharesTM 3x Long Crude Oil ETN(UWT) Investment Losses

Recovery of Investment Losses in UWT

Have you suffered losses investing in VelocitySharesTM 3x Long Crude Oil ETN(UWT)? If so, The White Law Group may be able to help you recover your losses by filing a FINRA arbitration claim against the brokerage firm that sold you the investment.

VelocityShares 3x Long Crude Oil ETN is an exchange-traded note issued by Citigroup Global Markets Holdings Inc. The Note was designed to  provide investors with a cash payment at the scheduled maturity or early redemption based on the performance of the underlying index, S&P GSCI Crude Oil Index ER.

Unfortunately for investors, COVID-19 global pandemic has caused securities markets to tank, particularly those related to oil and gas. VelocitySharesTM 3x Long Crude Oil ETN is one of two funds that Citigroup is closing after the market drop caused investors huge losses.

Holders of the ETNs will receive a cash payment per ETN in an amount “equal to the closing indicative value of the respective series of ETNs on the final valuation date of the Optional Acceleration Valuation Period.”

The funds will reportedly cease trading on April 2.

Concerned about investment losses in an ETN?

The White Law Group continues to investigate the liability that brokerage firms may have for recommending complex and risky ETNs like  UWT to investors.

An exchange-traded note (ETN) is a senior, unsecured, unsubordinated debt security issued by an underwriting bank. Similar to other debt securities, ETNs have a maturity date and are backed only by the credit of the issuer. ETNs are designed to provide investors access to the returns of various market benchmarks.

Many of these investments are packaged as a way for investors to avoid the volatility of the market or capture growth in a particular sector.  In reality, these structured investments are just ways for the industry to increase revenues generated from the creation, sale, and management of these products.

Financial professionals and brokerage firms have a duty to recommend only investments that are appropriate for the client based on the client’s age, investment experience, net worth, and investment objectives.

If you have suffered losses investing in VelocitySharesTM 3x Long Crude Oil ETN(UWT), you may be able to recover your losses through FINRA arbitration.For a free consultation with a securities attorney, please call the White Law Group at 888-637-5510.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.

For more information on The White Law Group, visit https://www.whitesecuritieslaw.com.

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