Likewise, the recent rally in crude has coincided with a broad based equity rally and generally a slight restoration in hopes that the global economy will improve, which generally has had positive effects in the past on crude prices amidst healthy consumer demand.
While SEA has popped off of its recent lows, it still remains notably below both its 50 and 200 day moving averages, so we will continue to monitor crude oil’s near term price direction to determine if it is the beginning of a new trend or simply a bear market rally.
Year to date, SEA has fallen 46.65% and top holdings are currently Mitsui O.S.K., Nippon Yusen, SembCorp Marine Ltd., Cosco Pacific Ltd. and Kawasaki Kisen Kaisha, Ltd.
Guggenheim Shipping ETF
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