The SEC allowed USO to issue 1 billion new shares nearly eight weeks after the fund announced it issue all remaining registered shares.

Despite favorable conditions for actively managed mutual funds, only a third outperformed their benchmark in the first four months of the year.

After the coronavirus lockdown, one has to wonder if overconfidence is driving the market now.

A key barometer of investor sentiment points to further gains in the stock market, at least for the short term. The bond market is another story.

In the first five months of 2020, the 29 new active funds, including a wave of new non-transparent ETFs, have put the industry on pace for a total of 70, exceeding 2018 (64) and 2019 (59) levels, according to First Bridge Data.

The US Global Jets exchange-traded fund, ticker JETS, held just $33 million in early March when the coronavirus pandemic grounded global air travel. Its assets now top $1 billion.

BlackRock filed to license the structure of Precidian Investments’ ActiveShares product.