ETF Trends
ETF Trends

The Energy Select Sector SPDR Fund (NYSEArca: XLE) dropped more than 3% in afternoon trading Tuesday as oil futures experienced heavy selling pressure for the second straight day.

The $11.5 billion sector exchange traded fund (ETF), which invests in U.S. energy stocks, counts Exxon Mobil and Chevron as its top holdings with over 10% in each. The energy ETF was testing its 50-day moving average on Tuesday.

The largest oil ETF was down nearly 3% at last check after the International Energy Agency expressed concerns high prices will cut demand.

Energy Select Sector SPDR Fund


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.