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Citadel Advisors LLC lowered its holdings in shares of iShares Global Energy ETF (NYSEARCA:IXC) by 97.5% in the undefined quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,794 shares of the company's stock after selling 223,712 shares during the quarter. Citadel Advisors
Could oil hit $120? Goldman Sachs says prolonged supply disruptions could drive crude higher, creating opportunities for energy ETFs.
The top five performing iShares ETFs in July highlight strong returns in specialized market segments. Driven by gains in China large-caps, positive Ethereum momentum, and renewed geopolitical tensions leading to higher oil prices, July performance leadership came from a diverse range of asset classes.
After leading the markets for much of the first half of the year, energy stocks tapered off from mid-May through the start of July as a tenuous agreement between Iran and the United States helped normalize oil prices. But tensions in the Middle East have once again flared up, with the two countries exchanging missile fire and conflicting statements about maritime traffic in the Strait of Hormuz.
I downgrade iShares Global Energy ETF to "Hold," citing disappointing price action despite bullish geopolitical conditions. IXC's valuation remains attractive at a 10.3x P/E and a 1.0x PEG, with a high 3.1% yield. Concentration risk is notable, with XOM and CVX making up over 25% of the portfolio.
Oil prices have fallen back to pre-war levels, but energy ETFs may still offer opportunity as refining, LNG demand, and tight supply support the sector.
Tech capex and geopolitics have dominated the headlines this year, but opportunities emerge elsewhere. Dividend growth investing could be hitting its stride amid shifting macro and micro trends. Novel, forward-looking strategies may help asset allocators find alpha beyond traditional income approaches.
Energy sits in an unusual spot right now: it is paying real income while also producing the kind of capital gains that growth investors chase.