“We’re are entering a period of seasonal maintenance, which should put some downward pressure on prices,” Scott Roberts, co-head of high yield investments and manager at Invesco Advisers Inc., told Bloomberg.
For those seeking a hedge against further weakness in the energy sector, the ProShares Short Oil & Gas (NYSEArca: DDG) tries to reflect the inverse, or -100%, daily performance of the Dow Jones U.S. Oil & Gas Index.
SEE MORE: 32 Best ETFs to Track Crude Oil
The UltraShort Oil & Gas ProShares (NYSEArca: DUG) takes two times the inverse, or -200%, daily performance of the Dow Jones U.S. Oil & Gas Index. More aggressive traders can take a look at the Direxion Daily Energy Bear 3X Shares (NYSEArca: ERY), which reflects three times the inverse, or -300%, daily performance of the energy select sector index.
Moreover, the Direxion Daily S&P Oil & Gas Exploration & Production Bear Shares (NYSEArca: DRIP) takes the -3x, or -300%, daily performance of the S&P Oil & Gas Exploration & Production Select Industry Index.
For more information on the oil industry, visit our energy category.
PowerShares S&P SmallCap Energy Portfolio