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VelocitySharesTM 3x Long Silver ETN
52wk Range 16.25 - 56.46
read Terry Hogan's comment below. These ETF's are designed to hold for a day or less. Long term they suck.
I'm not a fan of the 3X ETFs whether they are long or short as tracking error will mean their performance will degrade with time + volatility. I also don't like commodities and futures based ETFs because of the complexities involved. Dylan would tell me "Don't criticize what you can't understand" but even if I don't get the ins and outs of how they track the performance, I do understand the phrase "after expenses".
betting on higher silver prices from here
As I've said before, I see big gains in silver this year, which means even bigger gains with this ETF.Silver could dip to $25/oz before the next leg up, which would create a very good (rare) buying opportunity.
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