ETF's

[msinghs]

Hi guys I have a question which is probably basic but I am slightly confused.

I am interested in Energy ETF's and ETN's. When I look at a ETF like:
PowerShares DB Oil Fund
the literature states that the holding is of 100% light sweet crude oil. The price of that oil is close to $100 but why is the fund trading at a price for around $30?
This may be a silly question but I would very much appreciate it if someone can answer it
Thanks

 

[arjunsgupta]

$30 is the NAV & NAV=(net assets/no. of shares issued). Hope this helps.

 

[Alexander Krosky]

The asset allocation of the ETF has nothing to do with the price.