Two U.S. Commodity Funds ETFs were halted at the market open on pending news, but trading has been resumed.
Trading in two futures-based ETFs, the United States 12 Month Natural Gas Fund (NYSEArca: UNL) and the short-focused United States Short Oil Fund (NYSEArca: DNO), was expected to resume at 10:45 a.m. Eastern time after having been halted for just over an hour due to a paperwork mix-up.
Due to a regulatory requirement that registration statements be updated and press releases be issued, United States Commodity Funds had to halt trading in both funds to get the house in order.
The ETF provider said this regulatory requirement applies at least once every three years, and it’s normal procedure for funds such as UNL and DNO. A company executive said trading has been resumed and the firm does not expect to halt it again.
Creations on the funds, however, remain temporarily suspended until United States Commodity Funds gets regulatory approval of the new registration statements, the company said in a press release.
UNL had almost $41 million in assets as of the Jan. 9 close, while DNO had $13.1 million, according to data compiled by IndexUniverse.