ETF Outlook For The Week of June 2, 2014
PowerShares DWA Energy Momentum ETF (NYSE: PXI)
The ETF uses a strategy that identifies energy stocks showing relative strength (momentum). The ETF was up 3.2 percent last week and closed just below the all-time high achieved in April.
The largest holding, Cheniere Energy (NYSE: LNG), was up 17 percent last week as the news regarding alterations to the approval process for new LNG terminals was viewed positively.
Along with LNG, the other names in the ETF are not the big companies that most energy ETFs focus their attention on. If the momentum in LNG and its peers continues this week, the ETF could hit a new all-time high.
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