1st U.S. Oil ETF Launching this Week
http://news.morningstar.com/news/DJ/M03/D29/200603291155DOWJONESDJONLINE000702.html?Cat=TopDJStories
Excerpt:
Amex Confirms First U.S. Oil ETF Launching Next Week
03-29-06 11:55 AM EST
BOSTON (Dow Jones) -- The American Stock Exchange confirmed Wednesday press reports that it plans to introduce the first U.S.-listed oil exchange-traded fund next week.
The ETF, called United States Oil Fund LP, will be launched on Monday and trade under the symbol "USO." It will be managed by commodity-pool operator Victoria Bay Asset Management LLC, according to a bell-ringing ceremony invitation sent to journalists by the Amex.
The fund is designed to track crude-oil prices by investing in energy derivative instruments.
The ETF would represent the first time individual investors would have a convenient, liquid vehicle for taking positions in crude oil itself, rather than investing in the shares of energy companies or mutual funds......
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