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NEW YORK (TheStreet) -- In the past, ETF issuers killed off their weakest funds, stragglers that could not garner enough investor interest to be viable.
Wednesday, however, was a landmark moment for the ETF industry, as Deutsche Bank(DB Quote) euthanized the wildly popular PowerShares DB Crude Oil Double Long ETN(DXO Quote).
This leveraged, futures-based commodity ETN has not had trouble attracting trading volume. As of Sept. 3, the three-month average daily trading volume for the fund was 12,775,600 shares. Currently, DXO has $407 million in outstanding notes that will have to be redeemed to investors on Sept 9. ...
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