Looking To Trade The Energy Sector Following Exxon's Climate Prediction? This Fund (ERX) Offers 2X Leverage
Portfolio Pulse from Melanie Schaffer
Direxion Energy Bull 2X Shares (ERX) closed 1.39% higher on Monday, bouncing up from the 200-day simple moving average (SMA) on Aug. 24. The energy sector has been on an upswing, with ERX offering leverage for sophisticated traders. ERX is a double-leveraged fund designed to outperform companies in the S&P Energy Select Sector Index by 200%. Exxon Mobil Corp (XOM) and Chevron Corporation (CVX) make up 42.15% of its weighted holdings. Other top names in the ETF include EOG Resources Inc (EOG), ConocoPhillips (COP), and Schlumberger NV (SLB).
August 29, 2023 | 11:48 am
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POSITIVE IMPACT
ConocoPhillips (COP) is a top name in the ERX ETF.
COP is directly mentioned in the article as a top name in the ERX ETF. The performance of ERX could impact COP's stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Chevron Corporation (CVX) makes up 42.15% of ERX's weighted holdings.
CVX is directly mentioned in the article as a major component of ERX's holdings. The performance of ERX could impact CVX's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
EOG Resources Inc (EOG) is a top name in the ERX ETF.
EOG is directly mentioned in the article as a top name in the ERX ETF. The performance of ERX could impact EOG's stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
ERX closed 1.39% higher on Monday and is designed to outperform companies in the S&P Energy Select Sector Index by 200%.
ERX is directly mentioned in the article and its performance is discussed in detail. The fund's recent upswing and its design to outperform companies in the S&P Energy Select Sector Index by 200% make it highly relevant.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Schlumberger NV (SLB) is a top name in the ERX ETF.
SLB is directly mentioned in the article as a top name in the ERX ETF. The performance of ERX could impact SLB's stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Exxon Mobil Corp (XOM) makes up 42.15% of ERX's weighted holdings.
XOM is directly mentioned in the article as a major component of ERX's holdings. The performance of ERX could impact XOM's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80