On Friday, investors will have the opportunity to invest in a new fund, explains Pringle. Trading on the Amex under the ticker symbol GCC the Greenhaven Continuous Commodity Index Fund aims to track the performance of the Continuous Commodity Total Return Index, an equal weighted basket of 17 commodities (corn, wheat, soybeans, live cattle, lean hogs, gold, platinum, silver, copper, cocoa, coffee, sugar, cotton, orange juice, crude oil, heating oil and natural gas). Reuters America, LLC owns and calculates the Index.
"Increasingly, many investors have concluded that commodities are an asset class that should be represented in a balanced portfolio, says Pringle. GCC can provide investors, both large and small, with broad commodity exposure in an efficient and low-cost way."
The Continuous Commodity Index by Reuters has long been a benchmark of overall commodity prices. By tracking the index with long positions on U.S. futures exchanges, GCC will avoid the costs of owning physical commodities and minimize counterparty risk. Moreover, trading on Amex will provide shareholders with transparency and liquidity."
Got something to say? Send us an e-mail at email@example.com and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to firstname.lastname@example.org.
Trader disclosure: On Jan 31, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (YHOO), (EMC), (INTC), (ATVI); Najarian Owns (BR), (C), (CSCO), (EMC), (MS), (MSFT), (YRCW); Najarian Owns (EBAY) Calls, (CMC) Calls, (GOOG) Calls, (YHOO) Calls; Finerman Owns (GS); Finerman's Firm Owns (PZN), (TSO), (VLO), (YHOO), (BR); Finerman's Firm And Finerman Own (CROX); Finerman's Firm Is Short (SPY), (IYR), (IJR), (MDY), (CME), (WFC), (COF); Finerman's Firm And Finerman Own (HD); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Pringle is The President And Majority Owner Of Greenhaven Commodity Services, LLC Greenhaven Commodity Services, LLC Is The Managing Owner Of Greenhaven Continuous Commodity Index Fund; Greenhaven Commodity Services, LLC Owns Beneficial Shares In Greenhaven Continuous Commodity Index Fund