ETF.com’s “ETF of The Year” award went to the ARK Innovation ETF (ARKK) for 2017. The award was given to ARKK for a number of reasons, but the top two were due to its exposure to disruptive technology in 2017 and its strong performance. Both of those key metrics for winning the award were partly due to the fund's exposure to Bitcoin.
ARKK owned Bitcoin through buying shares of the Bitcoin Investment Trust (GBTC). ARKK had anywhere between 6% and 10% of its assets in GBTC during 2017 while the cryptocurrency rose higher during the end of last year. During that time Bitcoin was often ARKK’s top holding. This helped the fund produce an 85% return for investors in 2017. Just for comparison, GBTC was up roughly 1,550% in 2017.
What’s more interesting though is that while GBTC is now down more than 65% year-to-date in 2018, ARKK is up more than 21% this year. The main reason for this reversal is because sometime in January of 2018 ARKK’s management team started selling their position in GBTC. As of today, ARKK still has a small position in GBTC, but it represents just 0.26% of the fund's assets.
ARK, the issuer of the ARKK ETF recently told ETF.com that it was a “complicated decision” to cut its Bitcoin investments, but that it was driven largely by regulatory and tax concerns, more so than the true “merits” of Bitcoin. Continue reading "Bitcoin Helped ARK Win 'Top ETF' in 2017"
We've asked Michael Seery of SEERYFUTURES.COM to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.
Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.
Gold futures in the August contract is currently trading at 1,242 an ounce after settling last Friday in New York at 1,255 down about $13 for the trading week hitting a fresh contract low as I remain bearish gold and as I have talked about in many previous blogs I think we're headed towards the 1,200 area relatively soon. The precious metals across the board continue their bearish momentum on a daily, and weekly basis as the U.S dollar remains strong, and the U.S equity market also is in a significant bullish trend as the NASDAQ 100, and the Russell 2000 hit all-time highs in yesterday's trade. Money flows continue to come out of the precious metal sector and into the equity market, and I don't see that ending anytime soon. I see no reason to own gold at this time and if you are short, stay short and place the stop loss above the 10-day high standing at 1,267 as the chart structure will also improve in next week's trade, therefore, the risk will also be lowered. Gold prices are trading far under their 20 and 100-day moving average as the trend is to the downside as volatility is average at the current time, but investors presently don't want to own anything except for stocks and possibly the crude oil market. I'm not recommending any bullish position in gold as a bottoming pattern has not been formed yet in my opinion as prices still look expensive.
CHART STRUCTURE: IMPROVING
Continue reading "Weekly Futures Recap With Mike Seery"
Just how crazy is Donald Trump?
Back at the beginning of March, the president famously tweeted:
“When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win. Example, when we are down $100 billion with a certain country and they get cute, don’t trade anymore-we win big. It’s easy!”
- President Donald Trump
You probably don’t remember what the exact reaction to that was, but you can probably guess it involved hoots of derisive laughter. After all, the idea of the president of the United States upsetting the world apple cart by supposedly starting a trade war with China and our biggest trade partners and closest allies was the height of lunacy.
But who’s laughing now? Continue reading "Who's Winning The 'Trade War'?"
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2018 has been a wild year with the bursting of the Bitcoin Bubble, some President Trump induced rallies and declines, trade war fears, North Korean diplomacy and the Facebook data scandal. But most all of, after the stock market rallying for years, its beginning to show signs of sluggishness as the S&P 500 is up a mere 0.84% during the first half of 2018.
But despite the weakness of the overall market, some investors, with the help of a few Exchange Traded Funds have made money during the first half of the year. Let us take a look at the top four, non-leveraged, non-VIX ETF’s during the first half of 2018.
The best performing non-leveraged, non-VIX ETF was the Invesco S&P SmallCap Health Care ETF (PSCH) which rose by 30.62%. Over the last 12 months, PSCH is up more than 45% after climbing an additional 16% during the most recent three months. The fund owns small cap stocks which operate in the healthcare sector and currently more then 75% of the assets are in companies that have a market cap smaller than $2.7 billion. The fund tends to lean towards healthcare equipment companies and healthcare providers more so than drug companies. The averagely weighted market cap is just $2.5 billion. The fund currently has $752 million in assets under management and 74 holdings. The top three holdings are Chemed Corp. (CHE), Haemonetics Corp. (HAE), and Neogen Corp. (NEOG). The funds top ten stocks make up 33% of assets, and it will cost an investor 0.29% to own PSCH on a yearly basis.
An aging population which is living longer than any other generation before it tends to be good for the healthcare industry. While PSCH may not end the year as the top ETF, it is indeed one you could buy now and feel comfortable owning for years to come. Continue reading "Top ETFs For The First Half Of 2018"