Oil ETF (BNO) Hits New 52-Week High

Logo NasdaqNasdaq
2023-09-19 10:00:00  • 2 mins

For investors seeking momentum,United States Brent Oil ETF BNO is probably on radar. The fund just hit a 52-week high and is up 37.5% from its 52-week low price of $23.69/share.

But are more gains in store for this ETF? Lets take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:

BNO in Focus

The Brent crude oil looks to track the daily changes in percentage terms of the spot price of Brent crude oil. The fund has 1.00% in expense ratio (see:all the Energy ETFs here).

Why the Move?

The oil segment of the broad commodity market has been an area to watch lately, given the soaring oil prices. Oil analysts forecast a sustain rally in the liquid commodity price as Saudi Arabia prolonged its voluntary one-million-barrel oil supply cut through to the end of the year. Notably, the initial supply cuts seem to have yielded positive results. Currently, Brent crude is hovering around $95 a barrel. Analysts believe that oil could reach $100 by the year-end.

Continue read on nasdaq.com

Is the stock market surge of 2023 running out of steam? That seems to be the case. The S&P 500 has retreated from the lofty levels of just a couple of...
Logo NasdaqNasdaq
2023-10-01 09:52:00  • 1 min
After more than a year of uncertainty, 2023 has marked a return to form for Wall Street. The S&P 500 index has gained nearly 12% so far this year and is...
Logo NasdaqNasdaq
2023-10-01 15:45:00  • 1 min
For investors seeking momentum, SPDR Bloomberg Investment Grade Floating Rate ETF FLRN is probably on radar. The fund just hit a 52-week high and is up 3.57%...
Logo NasdaqNasdaq
2023-09-30 13:36:00  • 1 min
FXEmpire.com - Highlights A week of contrasts: U.S. natgas prices both soared and sank, with weather reports clouding the outlook. An 11% weekly uptick in...
Logo NasdaqNasdaq
2023-09-30 19:19:07  • 2 mins
For investors seeking momentum, Invesco Dynamic Oil & Gas Services ETF PXJ is probably on radar. The fund just hit a 52-week high and is up about 76.6%...
Logo NasdaqNasdaq
2023-09-28 14:36:00  • 1 min
The past few weeks haven't been particularly great ones for the stock market. All told, the S&P 500 currently sits 7% below its late-July peak. And lower...
Logo NasdaqNasdaq
2023-10-01 11:20:00  • 2 mins
Fintel reports that on September 29, 2023, Piper Sandler maintained coverage of Cboe Global Markets ( BATS:CBOE ) with a Overweight recommendation. Analyst...
Logo NasdaqNasdaq
2023-09-29 19:58:49  • 1 min
Last month wasn't a particularly great one for the market. All told, the S&P 500 lost 4% of its value in September, upending a budding rebound effort in...
Logo NasdaqNasdaq
2023-10-01 09:20:00  • 2 mins
For investors seeking momentum, Simplify Interest Rate Hedge ETF PFIX is probably on the radar. The fund just hit a 52-week high and is up 59.42% from its...
Logo NasdaqNasdaq
2023-09-27 22:00:00  • 1 min
Investors looking for smart ways to bump up their stream of passive income want to push their shopping carts toward the healthcare aisle. A handful of...
Logo NasdaqNasdaq
2023-10-01 10:47:00  • 1 min
Over short periods, Wall Street is completely unpredictable. Since the start of 2020, we've witnessed the major indexes bounce back and forth between bear...
Logo NasdaqNasdaq
2023-10-01 09:06:00  • 1 min
In this video, I will talk about four companies worth your attention, especially during these uncertain times. I chose a mix of companies in different...
Logo NasdaqNasdaq
2023-10-01 14:30:00  • 1 min
Oil futures touched a fresh 2023 high of more than $95 on Wednesday after inventories at the largest storage hub in the United States dropped toward levels...
Logo NasdaqNasdaq
2023-09-28 12:00:00  • 1 min
(Kitco News) Political pressure is delaying the approval of a Bitcoin spot ETF, according to Mike Belshe, CEO of BitGo. Despite this challenge, he remains...
Logo Kitco NEWSKitco NEWS
2023-09-26 18:55:06  • 1 min
There's a powerful case for Boeing (NYSE: BA) stock. After all, despite its problems in recent years, it's still one of only two major players in commercial...
Logo NasdaqNasdaq
2023-10-01 09:49:00  • 2 mins
Insurance company stocks have performed quite well over the past couple of years despite market volatility driven by macroeconomic issues, inflation, and...
Logo NasdaqNasdaq
2023-10-01 11:09:00  • 1 min
When given time, Wall Street is a bona fide money machine. But over shorter timelines, directional movements in the broader market are unpredictable, as the...
Logo NasdaqNasdaq
2023-09-30 09:06:00  • 1 min
September has historically been the worst month (by a wide margin) for the S&P 500. That strange phenomenon, referred to as the September Effect, hit the...
Logo NasdaqNasdaq
2023-09-30 11:05:00  • 2 mins
Energy stocks were lower late Friday afternoon with the NYSE Energy Sector Index dropping 1.5% and the Energy Select Sector SPDR Fund (XLE) sliding 1.9%. The...
Logo NasdaqNasdaq
2023-09-29 19:32:32  • 1 min
For investors seeking momentum, Sprott Uranium Miners ETF URNM is probably on the radar. The fund just hit a 52-week high and is up 61% from its 52-week low...
Logo NasdaqNasdaq
2023-09-25 13:21:00  • 1 min