The moribund energy sector is this year's worst performer in the S&P 500, but that did not stop some laggards-to-leaders action last week, as some energy exchange-traded funds fast and furiously rebounded.
Last week, five of the 10 best-performing non-leveraged ETFs were equity-based energy funds with each of those five posting one-week gains well into the double digits. As is often the case when a beaten up sector rallies hard and fast in a small timeframe, the corresponding leveraged ETFs joined the party in significant fashion.
GUSH Quite Literally Gushes, Climbing 38 Percent
That was particularly true of the Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares (NYSE: GUSH).
Even with last Friday's 4.4 percent slide, the Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares ...
/www.benzinga.com/trading-ideas/long-ideas/15/10/5903951/energy-rebound-sparks-leveraged-etf-action alt=Energy Rebound Sparks Leveraged ETF Action>Full story available on Benzinga.com
More...