What happened to the $NANC ETF? Did it just get locked?

General
1

I bought 10 shares of the $NANC ETF, which is supposed to follow Nancy Pelosi’s trades and other Democrats’. It was working fine for a couple of weeks.

I also got the Republican version, $KRUZ, and that one seems okay.

But with $NANC, my trading account now shows this weird message:

Receive 1 US8863641994 (LOCK-11597:xxxx) for every 1 held.

Now $NANC is gone from my account, and instead, there’s this “LOCK-11597” thing listed at $0.

Does this mean I just lost $400?

2

Did you check with your broker? This looks like a corporate action. It says so right in your account.

The ETF might’ve had a CUSIP change recently. Sometimes, broker systems mess up after a change like that and temporarily lose cost-basis or pricing info.

It looks like your broker logged it as a transfer to a new position with the updated CUSIP.

3

@Scout
Yeah, I asked them. They just said “it was a corporate action” but didn’t explain anything. So frustrating.

4

Brian said:
@Scout
Yeah, I asked them. They just said “it was a corporate action” but didn’t explain anything. So frustrating.

Which broker are you using? If they can’t explain basic stuff, maybe it’s time to switch. A decent broker should at least get you a clearer answer from their corporate actions team.

5

This happened to me too last week with Schwab. It sorted itself out overnight.

6

Payne said:
This happened to me too last week with Schwab. It sorted itself out overnight.

Oh wow, good to know! In my case, it’s already been a few days, though.

7

I can still see $NANC in my Wealthsimple account, and it’s letting me buy more.

8

Dayton said:
I can still see $NANC in my Wealthsimple account, and it’s letting me buy more.

Right? Same here, I can still see it listed in my account ready to buy. But I’m definitely not testing it now.

9

@Brian
Why are you both calling it a ‘ticket’ though?

10

Sounds like a glitch with your broker. On IBKR, $NANC is fine. Premarket orders are showing about a 73-cent spread. I don’t see any unusual news either.

11

Keir said:
Sounds like a glitch with your broker. On IBKR, $NANC is fine. Premarket orders are showing about a 73-cent spread. I don’t see any unusual news either.

Yeah, you’re probably right. Looks like I’ll have to fight with my broker again. They’re such a pain to deal with.

12

I bought $NANC last year, and honestly, I’m not impressed. It’s not performing much better than the S&P 500. I’ll probably sell it when it qualifies for long-term capital gains. With its high expense ratio, it feels like it’s just making money for the management company, not investors.

13

@Jael
Why’d you expect it to crush the S&P 500? Most ETFs don’t consistently outperform.