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VelocityShares 3x Inverse Crude Oil ETN (NYSE Arca: DWT) leads our list of ETF winners* for last week. Oil prices dropped about $2 for the week, closing at $45.83. The triple-leveraged ETN, which aims to move against the S&P GSCI Crude Oil Excess Return Index, rode that drop to a hefty 11% gain. ProShares UltraShort Bloomberg Crude Oil (NYSE Arca: SCO) joined the fun with a 7.5% gain.
Precious metals ETFs were also on the move. Direxion Daily Junior Gold Miners Index Bull 3X Shares (NYSE Arca: JNUG) rose 7%. Gold itself was actually down for the week, but is up 3.2% over the last month. Silver's 2% drop on the week was enough to push VelocityShares 3x Inverse Silver ETN (Nasdaq: DSLV) up by 5.5%.
ProShares UltraPro Short QQQ (Nasdaq: SQQQ) moves inversely to the Nasdaq 100, which dropped 2.3%. That gave SQQQ a 7.1% gain.
*ETFs have a primary listing on a U.S. exchange and an average daily trading volume over 100,000. Data and analytics provided by FactSet.
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About the Author
Stephen Mack has been writing about economics and finance since 2011. He contributed material for the best-selling books Aftershock and The Aftershock Investor. He lives in Baltimore, Maryland.