That’s when the market’s new rules kicked into gear. The NYSE enacted short-selling restrictions because of the activity that was taking place during the drop, and it busted any transactions that took place in that window.
Aside from that issue, the markets otherwise had a normal trading day.
Five-day trading volume shows that NIB is a small fund with less than $20 million in assets.
The fund tracks a narrow sector, as well, and considering the world economic issues and trading restrictions, it did very well. Tuesday’s activity is a great example of a “perfect storm” that was averted, since the proper check systems were in place. [Cocoa ETN Delivers Sweet Returns.]
Tisha Guerrero contributed to this article.