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