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Energy sector, long position. Diversifing our energy sector positions, Phillips 66,is an oil and gas company, helps transport, store and process fossil fuels before they’re sold to the consumer allowed to avoid corporate taxes, giving the company a cost advantage over competitors and allowing it to pay large dividends. Fits our investment strategy.
Short position with this company is suitable with the investment strategy of the fund as it has been in bottom 20 performers among S&P500 companies during the past six months. This transaction facilitates reaching an investment portfolio with equal weights between holdings.
One of the strategies is to short stocks in the tech industry with low momentum. Based on the stocks momentum of 10-day-interval, we believe that the market price will decrease a lot this week. Short position.