Oil futures ETFs reacted positively to U.S. GDP growth exceeding estimates, reinforcing bullish bets on energy demand. American Express is an advertising partner of Motley Fool Money. Selena Maranjian has positions in Apple and Berkshire Hathaway. The Motley Fool has positions in and recommends Apple, Berkshire Hathaway, Chevron, Vanguard S&P 500 ETF, and Zoetis. The Motley Fool recommends Occidental Petroleum. The Motley Fool has a disclosure policy . This caused the fund to implement a series of changes beginning last Friday. The fund, originally set up to invest in just the front-month contract until two weeks before expiration, said it would now invest funds in futures expiring months out. It also suspended the making of creation baskets, which is how an ETF makes new shares to meet demand. The creation baskets buy the futures. But by suspending this mechanism this week, the fund began to trade as a closed-end fund with a fixed number of shares. This also meant it could no longer accurately track the price of oil. Oil futures ETF trading volume spiked 25% above its monthly average, fueled by speculation of new production cuts from key OPEC members.
