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IQ Global Oil Small Cap ETF (IOIL)

- NYSEARCA
  • Sep. 9, 2013, 2:23 PM
    • Refiners (PXE, RYE, IOIL) are broadly underperforming the rest of the energy sector today after a Simmons downgrade to Neutral from Overweight, expecting continuing challenges to EPS and refining margins in Q3 and into 2014 after a dismal Q2.
    • Individual stocks lowered by the firm: Marathon Petroleum (MPC -1.5%), Tesoro (TSO -0.6%), Delek US (DK -1.3%), Alon USA (ALJ -0.5%), CVR Energy (CVI -1.8%), CVR Partners (CVRR -1.2%).
    • HollyFrontier (HFC -1.8%) breaks down to fresh multi-week lows after a downgrade from Morgan Stanley.
    • Also, Barclays says at its Energy-Power conference that it believes most refiners will miss current consensus expectations by a wide margin, with Valero (VLO +0.7%) the exception (Briefing.com).
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IOIL Description
The IQ Global Oil Small Cap ETF seeks investment results that correspond, before fees and expenses, to the price and yield performance of the IQ Global Oil Small Cap Index. The Index provides important exposure to global small cap companies engaged in the oil sector, including in the areas of exploration and production, refining and marketing, and equipment, services and drilling.
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