|Bid||18.68 x 3100|
|Ask||18.69 x 4000|
|Day's Range||18.65 - 19.71|
|52 Week Range||18.40 - 77.64|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-29.13%|
|Beta (5Y Monthly)||-2.40|
|Expense Ratio (net)||1.07%|
As with most sectors, 2019 saw the financial sector manage strong gains amid the U.S.-China trade war, but with a murky outlook to start 2020, it could mean looking into niche areas for investors. ETF investors, in particular, they can look to financial technology (fintech) funds that can capitalize on innovation in the sector. “Last year saw the sector pushed and pulled by factors including three Federal Reserve rate cuts, waffling on the U.S.-China trade deal and weak but eventually improving economic data from some of the world's largest economies,” wrote Maya Sasson in Kiplinger.
Value plays like the financial sector are leading the markets to highs in the S&P 500 and Dow Jones Industrial Average. It could translate to more strength in the coming months, which can give traders the opportunity to play the long and short side of the financial sector with a pair of Direxion Investments ETFs. “As 2019 seems to be coming to an end quickly, value is outperforming growth again, and this might be sustainable into 2020,” wrote registered investment advisor David Templeton on Seeking Alpha.
The Financial Select Sector SPDR (NYSEArca: XLF), the largest financial services ETF, has traded slightly higher this month and there is a slew of looming events that could make an XLF an interesting, ...
When it comes to the United Kingdom, the financial sector leads the way when it comes to using artificial intelligence (AI), according to new research from Microsoft. For traders looking to leverage up in the financial sector, this could be a trading opportunity for Direxion Daily Financial Bull 3X ETF (FAS) and Direxion Daily Financial Bear 3X ETF (FAZ) , depending on where their intuitions are. Microsoft’s report showed that nearly three-quarters (72%) of banks, insurance firms and other financial institutions are incorporating the use of AI technology.
Various firms like VanEck have tried to push through a Bitcoin ETF, but the SEC cited issues, such as price manipulation as a primary obstacle in getting a cryptocurrency-related fund approved. Clayton’s comments come ahead of two possible approvals or rejections for Bitcoin ETFs—one from Bitwise Asset Management and the other a joint effort from VanEck and Solid X. Both proposals were submitted late last year, but subsequent postponements have pushed the decision back. Are we any closer to seeing a Bitcoin ETF some day?
The Financial Select Sector SPDR (XLF) , the largest financial services ETF, and rival funds are under pressure, but that could also mean the S&P 500's third-largest sector is worth a look for tactical traders. Market observers have previously warned that Wall Street banks could face pressure as tepid market volatility could have contributed to more muted trading desk activity. Furthermore, the Federal Reserve has signaled its intentions to cut interest rates, which would further hurt the banking industry’s ability to generate profits from lending.
In response, the Financial Select Sector SPDR (NYSE: XLF), the largest ETF dedicated to the sector, finished August lower by about 5%. It's possible that the time to consider the Direxion Daily Financial Bull 3X Shares (NYSE: FAS) or the Direxion Daily Financial Bear 3X Shares (NYSE: FAZ) is drawing near.
Given the massive outflow and the bearish outlook, the appeal for financial ETFs, especially banks, has dulled. As a result, investors who are bearish on the sector right now may want to consider a near-term short.
As big banks continue to report their second-quarter earnings this week, some are already expressing concern with respect to the possibility of rate cuts by the Federal Reserve through 2019. In particular, profits could shrink as a result of lower interest rates, which could put the Direxion Daily Financial Bear 3X ETF (FAZ) in play. FAZ seeks daily investment results that equate to 300% of the inverse (or opposite) of the daily performance of the Russell 1000® Financial Services Index.
Citigroup (NYSE: C ) got the party started on Monday while JPMorgan Chase (NYSE: JPM ), Goldman Sachs (NYSE: GS ) and others in the financial space, continued the earnings parade yesterday. In other words, ...
The Federal Reserve gave banks the green light to offer more payouts to investors after 18 of the largest financial firms passed the second round of stress tests designed to assess the health of the financial system. For financial sector bulls, this could boost the Direxion Daily Financial Bull 3X ETF (FAS) . FAS seeks daily investment results worth 300 percent of the daily performance of the Russell 1000 Financial Services Index.