Provides 3x inverse exposure to the daily performance of the S&P 500 index. Offers a tool for investors to profit from short-term market declines. Now — the numbers.
An investor who bought at the very peak is down 92% today. The business is the same; what changed most is the price — and the expectations — the market pins on it.
It paid $1.15 per share over the last 12 months, with payments going back years without a break — regular cash for whoever holds the stock.
The stock trades 92% below its five-year peak.
Buyers haven’t stepped back in yet; the price hasn’t found its footing. Report-card grade: 1/100. For a turnaround signal, the stock first needs to close the gap with the market.
We grade companies — revenue, margins, balance sheets. This is a fund, so there is no report card to give. That is not a low grade; it is a different kind of thing.
One-line summary: a basket, not a business. Judge it by what it holds.