Benzinga
Published May 23, 2022 17:31
Updated May 23, 2022 18:10
Amid Monkeypox Outbreak, This 3X Leveraged ETF Provides Exposure To Health Sector: What To Watch
The Direxion Daily Healthcare Bull 3X Shares (NYSE: CURE) gapped up almost 2.52% higher on Monday in response to outbreaks of monkeypox being reported in several western nations.
CURE is a triple leveraged fund that is designed to outperform 72 U.S. companies in the home health care sector. The index includes a variety of companies including biotechnology, pharmaceuticals, health care equipment, supplies and technology developers and suppliers.
Some of the more familiar names in the ETF include Johnson & Johnson (NYSE: JNJ), weighted at 7.03%; Pfizer Inc. (NYSE: NYSE:PFE), weighted at 4.36%; and Thermo Fisher Scientific Inc. (NYSE: NYSE:TMO), weighted at 3.33%.
It should be noted that leveraged ETFs are meant to be used as a trading vehicle as opposed to a long-term investment.
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The CURE Chart: CURE reversed course into an uptrend after printing a bullish double bottom pattern on Feb. 24 and May 12 at the $97.67 level. The uptrend on CURE’s chart was confirmed on May 19, when the ETF printed a higher low at $100.18.
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