MORL

ETRACS Monthly Pay 2xLeveraged Mortgage REIT ETN
CLOSING PRICECHANGE (%)VOLUME
$15.66+0.21 (1.36%)457.28K
4:00:00 p.m. (ET) 01/23/2017
BZX EXCHANGE CLOSED
LAST TRADECHANGE (%)
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BID SIZEBID ($)ASK ($)ASK SIZE
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Bats BZX Real-Time Quote

MORL Fund Description

The ETRACS Monthly Pay 2xLeveraged Mortgage REIT ETN provides 2x levered exposure to a cap-weighted index of US and non-US REITS that derive at least 50% of their revenues from mortgage-related activity.

MORL FactSet Analytics Insight

MORL—an ETN—aims to provide 200%pays a juicy yield...but the risks are many of the monthly returns of a market-cap-weighted index of global mortgage REITS. The note, which is merely a promise to pay the index’s leveraged return—as opposed to holding the actual mortgage REITs in the index—provides its promised exposure over the duration of 1 month. The monthly reset means investors holding it for longer than a month may fall victim to the effects of compounding, which could cause returns to drift from the product’s intended 2x returns. The basket of mortgage REITs MORL holds pays a juicy yield, something that’s amplified by the 2x leverage factor. The risks are many, however: As an ETN, MORL has the counterparty risk of UBS, and the embedded leverage in mortgage REITs is exacerbated by the fund’s 200% exposure. The fund's liquidity is decent—a critical feature for a tactical play. Check the latest trade data on this page. Note: MRRL, a B series version of the ETN, launched in Oct. 2015. It tracks the same index but its liquidity may differ.

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
Bats Book Viewer
TOP OF BOOK
SHARES/SIZEPRICE
ASKS----
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BIDS----
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LAST 10 TRADES
TIMEPRICESHARES
15:41:5615.69100
15:41:5215.69100
14:27:1315.66300
14:26:5615.65100
13:44:1315.70100
13:44:1215.70100
13:44:1015.70100
13:44:0515.70100
13:37:2415.71100
13:25:0715.70100
Bats BZX Real-time Quote - 17:05:02
Average Spread
Premium/Discount
Volume

MORL FactSet Analytics Block Liquidity

As of 01/23/17
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of MORL. MORL is rated a 5 out of 5.

MORL Summary Data

10/17/12
Exchange-Traded Note
0.80%
$285.61 M

MORL Portfolio Data

15.46%
01/11/17

MORL Index Data

Market Cap
Market Cap
N/A

MORL Fund Structure

No
N/A
0% / 100%
UBS AG (London Branch)
Low
Low
2x
Monthly

MORL Tax Exposures

20.00% / 39.60%
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No

MORL Tradability

304,224
$4.71 M
241,225
$3.62 M
0.27%
0.05%
0.88% / -1.13%
Potential
50,000
4.82
0.13%
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$15.45
5