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Oil Around $50 Means Energy Is a Buy for at Least One ETF Investor: (IXC):
FYI: At least one investor appears to be betting that oil prices have hit the bottom of the barrel.
The $1.5 billion iShares Global Energy ETF, or IXC, took in $166 million on Tuesday, the most since May and its first day of inflows since September. The cash surge seems to have come from one investor who bought more than 5 million shares worth close to $170 million on Monday morning. About 84 percent of the fund’s portfolio is in oil and gas companies, with Exxon Mobil Corp. and Chevron Corp. comprising a combined 23 percent. Regards, Ted https://www.bloomberg.com/news/articles/2018-11-28/oil-around-50-means-energy-is-a-buy-for-at-least-1-etf-investor?srnd=etfs
