Cocoa ETN Up Strongly Today (NIB)

iPath Dow Jones-UBS Cocoa Subindex Total Return ETN NIB shares are up 32 cents to $52.56, a gain of 0.6%, despite all the other commodities being down today.

The investment seeks to replicate, net of expenses, the Dow Jones-UBS Cocoa Total Return Sub-Index. The index is intended to reflect the returns that are potentially available through an unleveraged investment in cocoa futures contracts as well as the rate of interest that could be earned on cash collateral invested in specified Treasury Bills.