Why is this?
The risk management team of our intermediary decided to discontinue the instrument, thus the “close-only” status.
Ah… unfortunately. Thanks.
At the risk of having missed something, not sure I understand how people can close or sell their position if buying is closed? Would people not have to be able to buy in order for you to be able to sell?
To be clear, I don’t own this instrument (although I think I have at one point), I ask out of interest or to know if this happens to anything of mine in the future.
You can’t buy more, but you can sell if you want.
It looks like INRE (also €), IRNA ($) and INRG (£) are unaffected. I’d imagine this is due to a lack of volume/liquidity on IQQH but I may be wrong.
Yes, I understood that, however, my question was who’s then buying? Because unless I’m missing something, you can’t sell unless someone else buys?
The Dist version of this probably has a zero yield right, so why not buy the Acc version and be done with it?
They need to stop issuing stuff just because people don’t understand the product / underlying.
There are hundreds of not thousands of funds out there with income classes that are unlikely to distribute anything just because people ask. It complicates things for zero point. The problem is with the product creator. You should not be creating an income / distributing product, on something that is unlikely to generate or investment policy is not targeted towards income.
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Other people using different brokers exist.
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I would have hoped a perfectly genuine question would not have necessitated a sarcastic reply!
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Apologies, I’m not sure I could have worded it in any way you wouldn’t have found sarcastic, it’s one of the most basic questions I’ve ever seen.
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Why isn’t INRG discontinued? Same ETF, different ticker.
Just curious.
It looks reasonable in the name - not a lot of the underlying distribute, so apart from a bit of stupidity of those that launched it, why keep a distributing ETF that doesn’t distribute much when you can merge with the Accumulation version and lower operating costs to run?
Traders with short positions (short sellers)
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The close-only depends on the trading venue - all ETFs on the LSE are tradeable, whereas those on Xetra may be restricted.
On a side note, the close-only of iShares Global Clean Energy Dist (IQQH) has been removed by our intermediary. We reflected that, and the instrument is fully tradeable again.
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Thanks. Awesome…
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