Share on :

Asset Summary

Daily Performance Report for ERY ETF: Nov 6, 2024

Summary: The day started with ERY ETF opening at $23 and closing at $21.39. The ETF showed weakness throughout the day, with the highest price observed at $23.01 and the lowest at $21.04. The underlying asset had a trading range of $1.97 Overall, it was a negative trading day for ERY ETF, reflecting investor pessimism and market activity.

Change in Closing Price: There was a net decrease of $-1.61 or -7.00% in the closing price from the opening to the closing price over the day.

Volume Analysis: Trading volume for ERY ETF was 592,870 units during Nov 6, 2024, indicating active market participation and investor interest.

Opening Price: The day started at $23.

Highest Price: The highest price observed during the day was $23.01.

Lowest Price: The lowest price observed during the day was $21.04.

Closing Price: The day ended at $21.39.

Asset Performance Metrics and Risk Characteristics:

Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.

Asset Technical Analysis

Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. By using various technical indicators and chart patterns, investors can gain insights into market trends, price momentum, and potential turning points. This section delves into essential technical metrics, including moving averages, pivot points, and other indicators that provide a snapshot of an asset's current technical stance. Analyzing these indicators helps investors identify entry and exit points, assess market sentiment, and refine their trading strategies. Explore the following technical analysis data to understand the asset's performance dynamics and make better-informed decisions.

Moving Averages

Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:

  • SMA (Simple Moving Average): Reflects the average price over a specific number of periods.
  • EMA (Exponential Moving Average): Gives more weight to recent prices, making it more responsive to new information.
  • WMA (Weighted Moving Average): Assigns a weight to each price, emphasizing more recent prices.
  • WEMA (Weighted Exponential Moving Average): Combines elements of both WMA and EMA for a more responsive moving average.

Maximize Your ERY Trading Now

Discover unparalleled trading insights with RankMyTrade. Our automated system offers advanced analysis and technical indicators for ERY, aimed at optimizing your trading decisions. Elevate your trading approach instantly and get ahead in the market now!

Experience Excellence Now

Frequently Asked Questions

Factors influencing ERY’s performance include the volatility and performance of the oil and gas sector, overall market conditions, and the effectiveness of the leveraged inverse strategy. Daily rebalancing and compounding effects can also impact performance.

Similar ETFs to ERY include: DUG (ProShares UltraShort Oil & Gas), which seeks to provide twice the inverse (-2x) daily performance of the Dow Jones U.S. Oil & Gas Index, similar to ERY but with different management; SCO (ProShares UltraShort Crude Oil), which aims to provide twice the inverse (-2x) daily performance of the Bloomberg WTI Crude Oil Subindex; and SPXU (ProShares UltraShort S&P 500), which provides twice the inverse (-2x) daily performance of the S&P 500 Index, focusing on a different sector.

ERY uses financial derivatives to achieve twice the inverse (-2x) of the daily performance of the Dow Jones U.S. Oil & Gas Index. The ETF is rebalanced daily to maintain this leverage ratio, which can amplify returns in declining markets and magnify losses in rising markets.

ERY adjusts its holdings and leverage daily to reflect changes in the Dow Jones U.S. Oil & Gas Index. The ETF uses derivatives to achieve its -2x leverage ratio and rebalances frequently to maintain this exposure.

Key performance metrics for ERY include its net asset value (NAV), daily percentage returns, expense ratio, and tracking error. NAV reflects the per-share value of the ETF, daily returns indicate the leveraged inverse performance relative to the index, and the expense ratio covers management fees.

Risks include high volatility and potential for substantial losses due to the leveraged and inverse nature of the ETF. Leveraged ETFs like ERY are generally intended for short-term trading and may not perform as expected over longer periods due to compounding effects.

ERY aims to deliver twice the inverse (-2x) of the daily performance of the Dow Jones U.S. Oil & Gas Index. Due to its leveraged nature, ERY’s performance can vary significantly from the index over longer periods due to daily compounding and rebalancing effects.

Investors can purchase shares of ERY through a brokerage account. It is traded on major stock exchanges under the ticker symbol "ERY" and can be bought and sold like other stocks and ETFs.

ERY has an expense ratio of approximately 0.95%. This fee accounts for the costs associated with managing the fund, including administrative and operational expenses.

ERY is managed by ProShares and utilizes financial derivatives such as futures contracts, swaps, and other instruments to achieve its goal of twice the inverse daily performance of the Dow Jones U.S. Oil & Gas Index. The ETF is rebalanced daily to maintain its leverage ratio.

Transform Your ERY Trading Now

Empower your trading with RankMyTrade. Our comprehensive platform delivers precise analysis and strategic insights for ERY, designed to improve your trading outcomes. Enhance your market performance today and unlock new opportunities with our advanced system!

Disclaimers

The information displayed on this site is sourced from third-party providers and is believed to be reliable. RankMyTrade (RMT) has not independently verified this data and does not guarantee its accuracy. The information and calculations provided by RankMyTrade are for educational and informational purposes only and should not be construed as financial or investment advice.

With any investment, your capital is at risk. The value of your portfolio go down as well as up. Past performance is no guarantee of future results. By using this website, you accept our Terms of Service, Privacy Policy, and Payment Agreement.

Market data is provided in near real-time when available, but we do not guarantee its accuracy or timeliness.

Securities products are: Not FDIC insured · Not bank guaranteed · May lose value

Trademarks and logos are the property of their respective owners and do not represent endorsements of any kind. Unless otherwise noted, RankMyTrade and its affiliates are not partners, affiliates, or licensees of these companies.

Supported Assets & ETFs