2024-02-13 08:00:00 ET
Summary
- SPDR® S&P Oil & Gas Equipment & Services ETF, which focuses on oil and gas equipment and services, has been negatively impacted by the bearish environment for OFS companies.
- The fund's portfolio is heavily dependent on North America, with many companies down more than the 20% slide seen in the XES.
- The XES ETF is a good vehicle for tactical investors looking to capitalize on a potential rally in the energy sector, particularly in the fracking sector.
- We rate the fund as hold at present prices, but would look at taking a position sub $80.00 for growth.
Introduction
This is the first rattle out of the box for coverage of the SPDR® S&P Oil & Gas Equipment & Services ETF (XES). If you catch them right, exchange-traded funds, or ETFs, can be a good way to ride a sector move higher without single company risk. Many of the holdings of the XES have been featured in our Investing Group articles recently with......
Read the full article on Seeking Alpha
For further details see:
XES: A Small To Midcap Oil Service ETF With Considerable Upside