Energy-sector exchange traded funds from Direxion that apply 300% leverage on a daily basis have seen huge swings this week as oil prices swoon. Trading volume in these volatile ETFs surged Tuesday.
Direxion Daily Energy Bull 3x Shares (NYSEArca: ERX) and Direxion Daily Energy Bear 3x Shares (NYSEArca: ERY) both saw volume of more than 3 million shares Tuesday and one-day moves of about 9%.
Energy Select Sector SPDR Fund (NYSEArca: XLE) lost 3% while volume also spiked in the ETF.
Direxion Daily Energy Bull 3x Shares
The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.