BGU is being sold for a substantial discount to SPY

People are willing to sell leveraged risk at much larger than normal discounts!

BGU is represented by the gray bars...so far today it has been drifting relatively far beneath the SPY cash price and the parity prices that would reflect a balanced market. When people will sell a leveraged instrument at a discount the market is valuing the "risk-off" trade.

This situation is currently on the extreme side...and I would look for some sort of bounce back closer to parity soon.