ETF Trends
ETF Trends

An exchange traded fund indexed to companies focused on the exploration and production of oil and natural gas has led the bounce in equities over the past month, gaining 50% from its October low.

SPDR S&P Oil & Gas Exploration & Production ETF (NYSEArca: XOP) was down fractionally Monday but leads nonleveraged ETFs over the trailing month, climbing about 28%.

The fund was trading hands at $56.36 a share in midday trading Monday, a rise of 50% from its 52-week intraday low of $37.67, which was hit in early October.

The iShares Dow Jones US Oil & Gas Exploration (NYSEArca: IEO) is a similar ETF.

Crude futures on Monday rose to their highest level in over three months, MarketWatch reported Monday.

“Crude oil is choppy … Rumors continue to fly in Europe, as a lack of faith in Italian debt is pushing it to new record high yields,” said Matt Smith, an analyst with Summit Energy, in the report. [ETFs Rattled by Berlusconi Talk]

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