Glossary U

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Section U

Uncovered Tax Lots

An uncovered tax lot refers to tax lots open prior to January 1, 2011 and securities not be covered until 2012 (Mutual funds and DRIPs) or 2013 (Debt securities and Options) as part of cost basis reporting regulations recently enacted by Congress. Cost Basis will be calculated on uncovered securities where UBS has original tax lot information, but this information will not be reported to the IRS.

Undervalued

A way of saying that a stock is worth more than its current price, because of corporate earnings, market trends, or price/earnings ratios.

Unissued Stock

That part of a corporation's authorized common and preferred shares never actually exchanged for money or services.

Uptick

A term used to designate that a trade was executed at a price higher than the preceding trade.

U-R Out

This message, which appears in the Online Services Transaction Detail page, confirms that a request to cancel an order has been received and accepted at the market, and will not be executed.

US Government/Agency Fund

A mutual fund that invests a minimum of 65% in securities issued or guaranteed by the Government, its agencies or instrumentalities. Investments are not tied to any specific maturity or duration.

US Treasury Bond Funds

This type of mutual fund invests a minimum of 65% of its assets in securities issued and backed by the full faith and credit of the U.S. government.

Utilities Funds

This type of mutual fund seeks a high level of current income by investing primarily in the equity securities of utility companies.