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Energy excellence: it could be the refiners ETF
Although oil prices have retreated a bit in recent sessions, the United States Oil Fund(NYSE: USO) is still up 3.3 percent over the past month. That move has been enough to boost the fortunes of an array of equity-based energy ETFs.
Included on that list is the Market Vectors Oil Refiners ETF (NYSE: CRAK). CRAK, the first dedicated refiners ETF, is higher by 4.3 percent over the past month. That is impressive when considering refiners benefit when oil prices slide due to lower crack spreads, perhaps the inspiration for CRAK's ticker, and the few ETFs with robust refiners exposure have been noticeably less bad this year than traditional equity-based energy sector counterparts.
The gains posted by some refining stocks, including several of the 26 held by CRAK, are enough to make investors ponder if the ETF and its holdings can remain firm going forward.
Read more on Benzinga.
Photo: Natalie Maynor