The risky trade has been paying off in recent sessions as UWTI has jumped 44.4% over the past three days. [Oil ETFs Bounce on Production Freeze Plans]
TD Ameritrade also found that millennials are less apt to invest in mutual funds and steered toward investments with no management and less fees. Specifically, stocks were the most heavily traded security type among millennials at 55%, followed by options 26%, futures 11%, ETFs 7%, forex 2% and mutual stock/bond funds less than 1%.
“The millennial audience has a distrust for Wall Street,” Sherrod added. “They steer away from products that are managed by a professional.”
Source: TD Ameritrade
Max Chen contributed to this article.