NEW YORK ( TheStreet) -- If ever any exchange-traded products were going to be fodder for skeptical debate, the new eTracs Internet IPO ETN (EIPO) and the 2X Leveraged eTracs Internet IPO ETN (EIPL) would be it. UBS (UBS), the bank underlying the notes, came to the market very quickly to capitalize on the newest mania of social media and new internet IPOs.Each ETN tracks the same index with the only difference being the leverage for EIPL. The current index is a "who's who" of all most popular recent Internet IPOs. Some of the prominent holdings are LinkedIn (LNKD), Pandora (P) and Open Table (OPEN). There are also foreign stocks in there like Russian search engine Yandex (YNDX) and Chinese social networking company Renren (RENN).
New ETNs Dive Into IPO Mania
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