A Diversified Oil Sector Play
Traders who want to avoid the concentration risk, but still like the bullish prospect of Exxon and other oil companies, can trade the full energy sector for a diversified play. That’s available with the Direxion Daily Energy Bull 3X Shares (ERX).
The majority of the fund allocates to Exxon, but traders also get exposure to other oil industry giants like Chevron and Conocophillips. Those three names round out the top three holdings in the fund as of June 5. This is because the fund tracks the Energy Select Sector Index (IXETR). It includes domestic companies operating within the energy sector. More specifically, oil, gas and consumable fuels; and energy equipment and services.
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