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Commentary Topic from greenfaucet

UUP Runs Out Of Shares

Odd things are happening in PowerShares DB US Dollar Bullish ETF (NYSE: UUP).  On Thursday (11/5/09) PowerShares was forced to halt trading in this normally unremarkable fund while they filed an application with the SEC to issue more shares.  Like most securities, ETFs are issued under a prospectus which allows the sponsor to issue a defined number of shares.  This facilitates the creation/redemption process that keeps ETFs priced in line with their net asset value.