130/30 exchange traded note

I was going through some old starred items in Google Reader and stumbled across an old post from Random Roger about a 130/30 exchange traded note from First Trust. (Roger notes he's skeptical about 130/30 strategies in the post.)

There is a charts of the price history on the First Trust product page for the 130/30 ETN, and it looks like it's fallen from the high 40s in June to the mid 20s in November. The performance of this style of fund/note hasn't turned around since my last post on 130/30 funds.