Our attorneys are investigating investor losses in iPath S&P GSCI Crude Oil Total Return Index ETN (stock ticker “OIL”) and VelocityShares 3x Long Crude Oil ETN (stock ticker “UWTI”).
OIL is a complex exchange-traded note (“ETN”) designed to provide exposure to the S&P GSCI Crude Oil Total Return Index (the “Index”). According to OIL’s issuer’s website, the ETN is riskier than ordinary unsecured debt securities and have no principal protection. The investment, according to the website involves significant risk, and investors could potentially lose their principal.
OIL peaked at just over $25.00 per share in the middle of 2014. Since that peak, it has dropped immensely in value. It currently trades at or around $6.00 per share. Barclays Capital is the issuer of OIL.