10 Best Shipping Stocks To Own Right Now

10 Best Shipping Stocks To Own Right Now: Guggenheim CurrencyShares Euro Trust (FXE)

Guggenheim CurrencyShares Euro Trust, formerly CurrencyShares Euro Trust, is a grantor trust. The Trust issues shares (the Shares) in blocks of 50,000 (a Basket) in exchange for deposits of euro and distributes euro in connection with the redemption of Baskets. The investment objective of the Trust is for the Shares to reflect the price of euro plus accrued interest. The Shares are intended to offer investors an opportunity to participate in the market for the euro through an investment in securities. The Shares are bought and sold on NYSE Arca. The Shares are backed by the assets of the Trust, which does not hold or use derivative products. The Trust holds euro and, from time to time, issues Baskets in exchange for deposits of euro and distributes euro in connection with redemptions of Baskets.

The Sponsor is Rydex Specialized Products LLC. The Bank of New York Mellon serves as the Trustee. JPMorgan Chase Bank, N.A., London Branch is the Depository. The Depos itory maintains two deposit accounts for the Trust, a primary deposit account which may earn interest and a secondary deposit account which does not earn interest (Deposit Accounts). The secondary deposit account is used to account for interest received and paid out on creations and redemptions of Baskets. The secondary account is also used to account for interest, if any, earned on the primary deposit account, pay Trust expenses and distribute any excess interest to Shareholders on a monthly basis.

Advisors' Opinion:

• [By Richard Cox]

  Elsewhere, similar market reactions could were seen after last week's monetary policy meeting at the European Central Bank [ECB]. The ECB also did little to signal changes to its own stimulus programs, which was not a total surprise, given the fact that the bank reduced interest rates by 25! basis points to new all-time lows at 0.75% at last month's meeting. The main potential for surprise, however, came from the possibility that the central bank would announce the implementation of negative interest rates (the rate paid to commercial banks when holding money). Since this would have been a bearish outcome for the EUR/USD, markets have since bought the Euro, pushing the CurrencyShares Euro Trust ETF (FXE) higher.

• [By Ben Levisohn]

  The euro has dropped about 0.8% against the dollar, while the CurrencyShares Euro Trust ETF (FXE) has dropped 0.7% to $136.71 and the Currency Shares Japanese Yen Trust ETF (FXY) has fallen 1%. The ProShares UltrasShort Euro ETF (EUO) has gained 1.3% to $16.77, while the ProShares UltraShort Yen (YCS) has gained 1.9% to $66.58.

source from Top Stocks For 2015:http://www.topstocksblog.com/10-best-shipping-stocks-to-own-right-now-3.html