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Feeling Aggressive? This Leveraged Oil ETF May Be for You

Feeling Aggressive? This Leveraged Oil ETF May Be for You The start of the week’s trading session saw major U.S. indexes rally with oil prices following the move higher. Taking a look under the hood of ERX, there are some familiar names in big oil, such as Exxon Mobil Corporation and Chevron Corporation, which help explain its over 90% year-to-date gain. “Oil rallied toward $70 a barrel after OPEC+ chose not to relax supply curbs even as the global economy pulls out of its pandemic-driven slump, confounding widespread expectations the group would loosen the taps,” wrote Saket Sundria in World Oil. “The surprise decision spurred a wave of crude price forecast upgrades by major banks. The producer alliance agreed to hold output steady in April, while Saudi Arabia said that it will maintain its 1 million barrel-a-day voluntary production cut.”

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ERY -- Is Its Stock Price A Worthy Investment? Learn More

Direxion Daily Energy Bear 3X Shares (ERY) ETF Bio The investment objective of the Direxion Daily Energy Bear 3x Shares ETF seeks daily investment results of 300% of the inverse (or opposite) of the performance of the Energy Select Sector Index. The fund, under normal circumstances, creates short positions by investing at least 80% of its assets in: futures contracts; options on securities, indices and futures contracts; equity caps, floors and collars; swap agreements; forward contracts; short positions; reverse repurchase agreements; exchange-traded funds ( ETFs ); and other financial instruments that, in combination, provide inverse leveraged and unleveraged exposure to the Energy Select Sector Index.

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Leverage-Hungry? Play the Energy Wave with ERX

February 4, 2021 The energy sector has been rallying the past few months, with the S&P 100 Energy Index up close to 40%. Leverage-hungry traders can keep on riding the rally with ETFs like the  ERX seeks daily investment results equal to 200% of the daily performance of the Energy Select Sector Index. The index is provided by S&P Dow Jones Indices and includes domestic companies from the energy sector, which includes the following industries: oil, gas and consumable fuels, and energy equipment and services. Taking a look under the hood of ERX, there are some familiar names in big oil, such as Exxon Mobil Corporation and Chevron Corporation. Those two holdings comprise almost 35% of the fund’s assets, so oil prices play a major role in the performance of ERX.

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The Bulls Are Siding with Energy, As ERX Jumps 20% YTD

Energy is on the move, with the  OPEC member Saudi Arabia caught traders off guard with a surprise production cut last week. This gave bullish oil traders plenty to cheer about. “The decision by the Saudis was a big deal and it’s an underpinning for prices,” said Bill O’Grady, executive vice president at Confluence Investment Management in St. Louis. “Clearly, maintaining the oil price was paramount and they were willing to let others take advantage in order to accomplish that.” ERX seeks daily investment results equal to 300% of the daily performance of the Energy Select Sector Index. The index is provided by S&P Dow Jones Indices and includes domestic companies from the energy sector which includes the following industries: oil, gas and consumable fuels, and energy equipment and services.

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Direxion Energy Bull 3x Shares ETF (ETF:ERX), Chevron Corporation (NYSE:CVX) - Think The Energy Sector Can t Get Any Worse? This Leveraged ETF Is For You

Direxion Energy Bull 3x Shares ETF (ETF:ERX), Chevron Corporation (NYSE:CVX) - Think The Energy Sector Can t Get Any Worse? This Leveraged ETF Is For You
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