Credit Suisse recently announced that the Credit Suisse Equal Weight MLP Index ETN will continue to trade on the New York Stock Exchange under the ticker symbol “MLPN.”
Designed to emphasize its equal-weight investment strategy, MLPN is the only equally-weighted MLP exchange-traded product that tracks oil and natural gas midstream MLPs.
The MLPN tracks the performance of the Cushing 30 MLP Index, which is comprised of 30 MLPs that hold midstream energy infrastructure assets across North America. The formulaic methodology used by the index was developed by Swank Energy Income Advisors.
“The MLPN ETN is designed to provide investors with diversified exposure to the midstream MLP segment via an equal-weight approach,” Greg King, the head of exchange-traded products for Credit Suisse, said. “Many investors appreciate the emphasis away from larger cap stocks and toward smaller cap stocks, as well as the rebalancing away from outperforming stocks toward underperforming stocks, that equal-weight investing delivers.”
The Cushing 30 MLP Index tracks only MLPs in the midstream sector, which focuses on the gathering, processing, transportation and storage of crude oil and natural gas. The 30 MLPs operate businesses with revenues based on volume, a “toll-road” type model.