Energy Sector ETF Rises to Highest Since 2008
May 7th 2013 at 11:31am by John Spence
Energy Select Sector SPDR (NYSEArca: XLE) has been the best-performing sector ETF the past three weeks as the fund tries to break out to its highest level since 2008.
XLE traded as high as $80.98 a share on Tuesday, or a penny higher than the post-crisis high of $80.97 set in March 2011.
The ETF’s top holdings include Exxon Mobil (NYSE: XOM), Chevron (NYSE: CVX) and ConocoPhillips (NYSE: COP).
Since April 16, the energy fund is up 5.6% to lead the nine Select Sector SPDR ETFs, according to StockCharts.
Other cyclical sectors such as materials and technology have been leading the market since mid-April, while defensive ETFs such as consumer staples and utilities are lagging the S&P 500. [Some Sector ETF Charts Pointing to a Cyclical Rotation]
Energy Select Sector SPDR
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