Thinly traded Goldman Sachs Connect S&P Enhanced Commodity Total Return Strategy ETN (NYSEArca: GSC) has had an active week, losing more than 70% of its total assets outstanding via redemption activity.

About $190 million left the fund in the past day or two.

It is one of two entries into the ETF space by Goldman Sachs along with Goldman Sachs Claymore CEF Index (NYSEArca: GCE) and the fund debuted in July of 2007 and averages only about 26,000 shares traded per day.

The ETN takes a composite approach and attempts to deliver results to the investor reflective of owning a broadly diversified portfolio of commodity futures.

Broad based commodity futures funds such as PowerShares DB Commodity Index (NYSEArca: DBC) have rallied recently and have traded on a torrid pace, seeing significant inflows of assets in recent weeks.

DBC has now grown to a $6.1 billion fund as a result of the recent asset accumulation.

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