Exchange-traded Funds’ Performances on Friday
Energy Sector SPDR ETF (XLE): -1.29%
S&P Oil and Gas Exploration and Production SPDR ETF (XOP): -2.03%
Oil and Gas Equipment and Services SPDR ETF (XES): -5.56%
By MLP Trader:In a previous article, I proposed a different method of valuing oil and gas exploration and production companies. The conventional measure of Enterprise Value (EV) divided by Barrels of Oil Equivalent Per Day (BOEPD) production is profoundly misleading because it values oil production at a 6:1 ratio to natural gas production.
By Tom Lydon:
Natural gas prices have plunged to about an eight-month low as temperate weather conditions keep Americans from reaching for the A/C. Meanwhile, related exchange traded funds that take a bearish stance on the market are surging on the falling prices.
The weather is crappy. It’s freezing, it won’t stop snowing, and natural gas is spiking.
Yes, you read that correctly…
Natural gas — the cheapest of the cheap fuels — is starting to get a little more expensive. Natural gas prices jumped more than 5% during yesterday’s session, pushing prices to levels not seen since late 2011. This morning, it’s close to cracking $5.
The U.S. Energy Information Administration on Tuesday slightly raised its estimate for domestic natural gas production in 2013, expecting output this year to be up about 1.2 percent from 2012’s record high levels.
In its October Short-Term Energy Outlook, the EIA said it expected marketed natural gas production in 2013 to rise by 0.82 billion cubic feet per day to 70.00 bcf per day, up fractionally from its September outlook of 69.91 bcf daily.
Michael Johnston submits:Direxion is best known as the issuer that introduced investors to 3x leveraged ETFs, but the Boston-based firm has built out its offering of 2x leveraged funds in 2010. The expansion of that portion of Direxion’s product line continued today with the launch of four new leveraged ETFs, bring the company’s total leveraged ETF count to 38. The new ETFs launching today are:
David Fry (ETF Digest) submits: Direxion, a pioneer in providing alternative investment strategies to sophisticated investors, launched four new leveraged ETFs Wednesday, which brings the company’s total leveraged ETF count to 38.