WisdomTree is closing a leveraged exchange-traded product after this week’s historic collapse in oil spurred wild moves in the instrument’s price.
The WisdomTree WTI Crude Oil 3x Daily Short product has been suspended and will be delisted following “a severe overnight gap event,” according to a statement from the issuer. WisdomTree said the product, which closed on Tuesday at around $17 a share, will be compulsorily redeemed at $8.19 per unit.
