RE:What’s going on?? I do not know what is happening either. What surprises me, still, is that CR seems to be more volatile than others. I understood that when they had $300M of debt, but now? Maybe it is because they do not pay a dividend.
I read this article below from the Globe earlier this week. People are clearly selling oil and gas ETF.
Canadian ETF trends: Money market craze continues, investors exit energy funds and a new provider hits market
ANTHONY MNARD
SPECIAL TO THE GLOBE AND MAIL
PUBLISHED YESTERDAY
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In August, Canadian ETFs experienced an inflow of $2.9-billion, similar to the $3.1-billion inflow from the previous month. Fixed-income ETFs continued to be the favored choice among investors, contributing a substantial $2.6-billion to the overall monthly total of $2.9-billion.
Over the first eight months of the year, Canadian ETFs gathered a total of $25.3-billion in assets. Fixed-income ETFs took the lead with $15.4-billion in investments, followed by equity with $7.8-billion in inflow, indicating a strong and diversified appetite among investors in the Canadian ETF market.
The Horizons US 7-10 Year Treasury Bond ETF (
HTB-T) secured the top position among all ETFs, collecting $0.8-billion in inflow suggesting duration exposure, a slight shift from the previous months where aggregate bond ETFs were a popular choice in combination with money market ETFs.
The iShares S&P/TSX 60 Index ETF (
XIU-T) secured the second place with an inflow of $0.5-billion while the CI First Asset High Interest Savings ETF (
CSAV-T) and Horizons High Interest Savings ETFs (
CASH-T) attracted a combined $0.6-billion in investments and were the third and fifth most popular ETFs.
The iShares ESG Aware MSCI Emerging Markets Index (
XSEM-T) was not the most popular ETF in August, unlike the previous two months, but dropped to the fourth place with an inflow of $0.3-billion. This suggests that investors continue to appreciate the ETF’s investment thesis, but are investing somewhat more conservatively in the strategy.
Despite its robust 7.2 per cent monthly gain, the iShares S&P/TSX Capped Energy Index ETF (XEG-T) experienced a significant outflow of $0.5-billion. The positive performance was driven by a substantial uptick in WTI crude oil prices, which surged from US$70.64 at the end of June to US$83.63 at the end of August. The ETF returned a cumulative 263.2 per cent or 53.7 per cent annualized return over the last three years. Investors likely have taken profits after this short-term and 3-year bull run.
PonyBoyOutsider wrote: I don't know if I'll ever understand how these Oil & Gas stocks trade. Oils up, heading into heating season gas slightly higher than summer time pricing, and SP is tanking. Increased Liquids production soon will show up on the balance sheet, LNG Canada takeaway just around the corner. You would think we would see strengthening from the Monteny Players not sever weakness. I don't get it.
Frustrated to say the least.
Are the shorts settling up before the next leg up and trying to drive the sector down? ??
One Frustrated PonyBoy Outsider