UBS Etracs Launch CEF ETN with Double Monthly Leverage Reset

The ETRACS Monthly Pay 2xLeveraged Closed-End Fund ETN (NYSE: CEFL) (“CEFL” or the “ETN”) is an ETN linked to the monthly compounded 2x leveraged performance of the ISE High Income Index, reduced by the Accrued Fees. 

The ISE High Income Index has been created to provide investors with a product allowing them to quickly take advantage of both event-driven news and long term trends of the U.S. Closed-End Fund marketplace. The Index looks to capture the top 30 closed-end funds as determined by a multivariate ranking scheme.