Market Vectors Coal ETF Extends Losses

ETF trends reported that the Market Vectors Coal ETF (NYSEARCA:KOL) is down another 13 percent, adding to the funds losses of almost 30 percent over the past two years.

As quoted in the publication:

KOL’s struggles are encouraging some hedge funds to short not only shares of companies held by the ETF, but also short distressed debt issued by several of KOL’s most embattled constituents. Hedge funds are betting against debt issued by the likes of Walter Energy (NYSE: WLT), shares of which are down 80.3% this year, and turning around going long coal company bonds for pennies on the dollar.

Click here to read the full article.