An exchange-traded fund supplier helps traders make extra bets on Wall Avenue’s most worthwhile momentum trades.
GraniteShares, which debuted its first installment of single-stock ETFs in 2022, now manages 20 of them. It consists of the GraniteShares YieldBoost TSLA ETF (TSYY), which launched final month. The fund provides traders publicity to Tesla.
“That is about an increasing number of folks taking cost of their very own funds,” GraniteShares CEO William Rhind advised CNBC’s “ETF Edge” this week. “They need to have the ability to actively handle that and possibly attempt to outperform… That is the place we see issues like leverage, single shares actually enjoying.”
He calls demand “a worldwide phenomenon” as a result of it is not simply a possibility for U.S. traders.
“We’ve got traders all around the globe that need to the U.S. ETF market first as a result of that is the most important supply of liquidity,” added Rhind. “They’re seeking to the names that they know and love – the Teslas of the world [and] the Nvidias of the world. They’re solely obtainable right here within the U.S., and that is why folks come right here to commerce them.”
However the agency acknowledges the technique is not fitted to everybody.
GraniteShares features a disclosure in daring on its web site: “An funding in these ETFs contain important dangers.”
As of Friday’s shut, Tesla inventory is sort of $100, or about 19%, off its all-time excessive – hit on Dec. 18.