iShares S&P 500 Energy Sector UCITS ETF USD (Acc.) IESU

This ETF tracks the performance of an index of US energy sector companies included in the S&P 500. This fund uses derivatives to hedge currency risks.

WTF happened to this ETF today?!

Todays price chart on free trade shows a momentary spike downwards of 30% and then returning to its previous price of £7.26. WTAF?!

I had a stop well away from the current price to lock in any profits, but was filled way below this at £5.57.

This was the largest and best performing part of my portfolio - no surprise really given the energy crisis - and Ive now been crystallised out of my position for an effective “loss” of over £1200 in the blink of an eye.

Can anyone offer any insight into this??? Right now Im feeling more than a little pissed off… and feeling I should never again use Freetrades Stop Loss function.

It seems to me that this did not happen today but rather at about 13:30 on Friday 28 October. I can see on the LSE that the price clearly dropped to 527.40. I recommend you ping (or use the in-app chat if your subscription allows you) to investigate and get back to you.

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Do we think this etf has legs long term or once oil reduces it’ll tank?

Yes you are correct, this happened on the Friday. I did actually post this the same day, but my comment has been invisible and awaiting approval until this time.

Im not going to comment any further at this time, as this is currently under investigation , and Im waiting to hear back.

Thanks for your interest though.

And it’s done it again today about 13:00, dropping by approx 22% and then boxing straight back up

Today the same thing has happened!

Here’s a screen grab from the London Stock Exchange of how price moved at the time… You could probably guess which trade was mine but Ive marked it anyway.

Such a wonderful example of “normal… natural… organic price movement”. :rofl:

Interesting to note that at no time does the official Bid/Sell price as quoted by the LSE move to reflect the market price for those 4 trades. :thinking:

Also curious to note that within a second of my shares being dumped at 557p, theres a big buy order going through of 14,362 shares at 745p. Pure coincidence I’m sure.

A Bid/Ask spread of a mere 188p. :joy:

Certainly a bargain for someone