Copper is in the red, reports the WSJ Fund Track
. The column
focuses on the two products -- one an exchange-traded fund (ETF) and the other an exchange-traded note (ETN) -- that concentrate on the metal. Combined, the two products hold just more than $100 million.
BlackRock offers the $100 million iPath Dow Jones-UBS Copper Subindex Total Return ETN (JJC) while the ETF is the $4 million First Trust ISE Global Copper Index Fund (CU). First Trust opened its ETF only three months ago.
Copper prices are down nealy 20 percent recently, mostly on fears that an economic slowdown will cut demand for the metal. One worry is that the Chinese government will slow its housing sector. Another is the potential for a slowdown in Europe due to its credit crisis. A third is increasing unemployment in the United States.
Sean Hanna, Editor in Chief
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