The Energy Select Sector SPDR (ETF) (NYSE: XLE) is up 1.2 percent year to date. That does not sound like much, but it is a far cry from the savage losses incurred by the benchmark energy exchange traded fund in each of the past two years.
In March, XLE surged 7.4 percent, outpacing the S&P 500 by 310 basis points. Last month, XLE actually outpaced the United States Oil Fund LP (ETF) (NYSE: USO), which tracks front-month West Texas Intermediate futures, by 140 basis points. Even with impressive March showings, some oil ETFs are not luring investors.
Actually, the opposite is true as some market participants are using the March commodities surge to take profits in oil exchange traded products, indicating that some traders and investors see limited near-term upside for crude.
Oil And Oil ETFs
“Investors have been lacking faith in oil’s ...
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