Need Help in Analyzing This

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RGP22407

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According to thinkorswim and yahoo, there was a huge gap down in the 2X inverse ETFs before the market opened today.

This is today's action from Yahoo:

SSO -1.96%
SDS -11.45%

QLD -1.26%
QID -12.75%

UMW -3.34%
TWM -23.81%

DDM -2.35%
DXD -20.38%

Do I have bad data? Did I miss something? If not, then what gives?

gary
 
RGP22407 said:
According to thinkorswim and yahoo, there was a huge gap down in the 2X inverse ETFs before the market opened today.

This is today's action from Yahoo:

SSO -1.96%
SDS -11.45%

QLD -1.26%
QID -12.75%

UMW -3.34%
TWM -23.81%

DDM -2.35%
DXD -20.38%

Do I have bad data? Did I miss something? If not, then what gives?

gary
Click to expand...


SDS went ex-dividend or paid a capital gain today of $11.XX - payable on Dec 30. I assume the others paid dividends also. EFU paid a huge dividend. Traders short on those shares are going to have to cough up some big dividend money....ouch:nuts:

Full list of payout here
 
I know absolutely nothing about ETF's, but I just got a letter from a small, closely held, corporation advising me that a large % of dividends will be distributed Dec. 29, 2008 "in view of the potential tax law changes anticipated in 2009".
 
Rube said:
I know absolutely nothing about ETF's, but I just got a letter from a small, closely held, corporation advising me that a large % of dividends will be distributed Dec. 29, 2008 "in view of the potential tax law changes anticipated in 2009".
Click to expand...

You think you're a rube? I don't get letters from closely held corps! AND it never occurred to me that ETF short/margin holders might have to cough up on dividend payouts. I have $SOOO much still to learn before I stick my neck out of mutual funds and TSP. Wow! Yikes! I'm getting there tho. The longer I stick around here the smarter I get (without the experience gained from hard lumps even). :o:cool::)
 
Thank you gentlemen.

I did not see the "surprise" that Profunds gave to the Shorts. Evidently it was announced after hours Monday -- giving holders no chance to decide what they wanted to do.

I should have paid attention when Rydex announced large capital gains distributions back in early December. They, at least, gave some notice.

gary
 
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