FYI: UBS has closed the most popular REIT exchange-traded note (ETN) to new creations, a rare—but not unheard of—event that will likely result in the emergence of high trading premiums within the note.
Effective Thursday, Sept. 6, UBS issued a "sales halt" for its ETRACS Monthly Pay 2x Leveraged Mortgage REIT ETN (MORL), effectively suspending further sales from its outstanding inventory of the note until further notice.
MORL continues to trade on its listing exchange, NYSE Arca, however.
Regards,
Ted
https://www.etf.com/sections/features-and-news/popular-reit-etn-closes-creations
