OILK reverse split

[Bob_W + 37]

https://www.proshares.com/news/proshares_announces_share_splits_040320.html

ProShares is reverse-splitting their long crude ETFs.  OILK, for example, is a 1:5 reverse split.

Perhaps a good indicator of how low they expect fund prices to go...

[surrept33 + 609]

I don't know why anyone would buy these ETFs at the moment instead of say, some oil producers if they were making a directional bet on oil prices.

The contango will eat you alive, classic buy high and sell low situation:

https://www.cnbc.com/2020/04/21/retail-investors-who-believed-they-were-investing-in-crude-oil-get-a-rude-awakening.html

In 2016, despite the oil recovery, these vehicles had terrible return compared to spot oil price increase. This time, the contango is way worse.

[Bob_W + 37]

"I don't know why anyone would buy these ETFs at the moment ..."

I agree.