VelocityShares 3x Long Crude Oil ETNs linked to the S&P GSCI Crude Oil Index ER New
UWT
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- United States of America
- IPO Date
- Dec 8, 2016
- Similar Companies
- Business
- VelocityShares 3x Long Crude Oil ETNs linked to the S&P GSCI Crude Oil Index ER New (UWT) is an exchange-traded note (ETN) that provides investors with three times the daily performance of the S&P GSCI Crude Oil Index ER, which tracks long positions in futures contracts on West Texas Intermediate (WTI) crude oil. Issued by Citigroup Global Markets Holdings Inc. and guaranteed by Citigroup Inc., the ETN offers leveraged exposure to crude oil price movements without paying interest or guaranteeing principal repayment at maturity, early redemption, or acceleration; it matures on December 15, 2031. The product targets sophisticated institutional and retail investors seeking amplified daily returns in the commodities sector, particularly those focused on energy markets and volatility trading strategies. The ETN's core offering centers on its singular leveraged investment mechanism linked to the S&P GSCI Crude Oil Index ER, which reflects a hypothetical position in the nearest-to-expiration NYMEX WTI crude oil futures contract, rolled monthly; no additional products or services are provided beyond this structured note. VelocityShares operates within the broader exchange-traded products segment, emphasizing leveraged and inverse commodity ETNs; the brand originated under VS Holdings Inc., acquired by Janus Capital Group Inc. in 2014 and headquartered in Darien, Connecticut, before transitioning issuers for specific products like UWT. The ETN trades on NYSE Arca and is domiciled in the United States, with global accessibility through major brokerage platforms. In a significant development in March 2020, Citigroup exercised its option to accelerate the ETNs in full amid extreme crude oil market volatility, with redemption payments distributed to holders on April 3, 2020, based on the closing indicative value averaged over a specified unwinding period; this elective redemption preceded a potential mandatory trigger event and resulted in substantial losses for investors due to the product's leveraged structure and market conditions. No further issuances, partnerships, funding rounds, or product launches have been reported for this specific ETN since the redemption, though the VelocityShares brand persists in other Citigroup-issued leveraged products and the ticker occasionally appears in trading data reflecting residual or historical quotes. Post-redemption, the ETN ceased active trading functionality, marking a major operational termination rather than expansion or reorganization.