On March 7th a huge day for oil, where it hit $130 a Barrell, the leveraged ETF Gush by Direxion, was up only .67 basis points. Other leveraged oil ETFs performed much better. Direxion Shares ETF (ONG) Daily Oil Services was up 17% today.
Gush ETF UnderPerforms Against its Peers
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ETF Newz Says:
Looking under the hood a bit further, Gush has moved to a great deal of interest/bond holdings. Two of its top holdings listed as of 3/7 are Dreyfus Government Secs Cash Mgmt Admin DAPXX 45.06% and Goldman Sachs FS Treasury FTIXX at 12.62%. That’s 57% of its holdings.