Start the conversation
Leave a Reply
You must be logged in to post a comment.
Biotech was the big winner last week, making up four of our 10 best ETF* performers of the week. Biotech stocks soared on news that President Trump's action on drug prices may be more industry-friendly than his campaign rhetoric suggested.
Direxion Daily S&P Biotech Bull 3x Shares (NYSE Arca: LABU) was up 40.3%, ProShares Ultra Nasdaq Biotechnology (Nasdaq: BIB) was up 19.9%, SPDR S&P Biotech ETF (NYSE Arca: XBI) gained 12.2%, and iShares Nasdaq Biotechnology (Nasdaq: IBB) rose 9.6% on the week.
Funds that bet against energy also did well. Oil fell 3.9% on the week, and natural gas fell 3.6%. That gave big wins to VelocityShares 3x Inverse Crude Oil ETN (NYSE Arca: DWT), which rose 12.7%, Direxion Daily Energy Bear 3x Shares (NYSE Arca: ERY), which was up 8.9%, Velocity Shares 3x Inverse Natural Gas ETN (NYSE Arca: DGAZ), which gained 8.4%, and ProShares UltraShort Bloomberg Crude Oil (NYSE Arca: SCO), which was up 8%.
Gold miner funds made the list for the third straight week. Gold itself was flat, but Direxion Daily Gold Miners Index Bull 3x Shares (NYSE Arca: NUGT) was up 11.3%, and Direxion Daily Junior Gold Miners Index Bull 3x Shares (NYSE Arca: JNUG) was up 11%.
*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.
Don't Miss: This investing strategy has delivered 217 double- and triple-digit peak-gain winners since 2011. And you can get access for just pennies a day. Learn more...
Follow Money Morning on Facebook and Twitter.
Here Are 10 “One-Click” Ways to Earn 10% or Better on Your Money Every Quarter
Appreciation is great, but it’s possible to get even more out of the shares you own. A lot more: you can easily beat inflation and collect regular income to spare. There are no complicated trades to put on, no high-level options clearances necessary. In fact, you can do this with a couple of mouse clicks – passive income redefined. Click here for the report…
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.