Cotton ETN Bounces At 50-Day Average | ETF Trends

The $285 million iPath Dow Jones-UBS Cotton Subindex Total Return ETN (NYSEArca: BAL) was the top percentage gainer in exchange traded funds (ETFs) and notes on Wednesday afternoon.

The ETN, a debt instrument designed to follow cotton futures, was up nearly 5% in recent trading after bouncing at its 50-day moving average.

“The second best performing commodity product year to date after natural gas is BAL,” write Street One Financial analysts in their daily ETF update Wednesday. “BAL is up 41.63% YTD and up an astounding 163.66% in the trailing one year period. Currently, BAL is the only product on the market in the ETF/ETN space that grants access to the cotton space.”

Cotton was a solid performer in commodity markets Wednesday as the dollar lost ground. [Dollar Weakens As Cotton ETN Surges.]

“The all time trading high of this product is $117.33 [a share]which was touched in early March of this year,” Street One Financial said, referring to the cotton ETN.

The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.