GraniteShares launches leveraged ETFs tied to META, NVDA, and BABA
Dec. 13, 2022 11:28 AM ET
Meta Platforms, Inc. (META), NVDA, BABA AAPB, CONL, TSL, TSL I
By: Jason Capul, SA News Editor
3 Comments
 Nastassia Samal
Continuing the recent a wave of leveraged exchange traded funds tied to a single stock, GraniteShares unveiled three new leveraged funds that capitalize off the price movements of Meta Platforms (NASDAQ: META), Nvidia (NASDAQ: NVDA) and Alibaba (NYSE: BABA).
GraniteShares' new funds offer leverage of either 1.5X or 1.75X, depending on the stock involved. The three ETFs that have been made available are the GraniteShares 1.5X Long META Daily ETF (FBL), GraniteShares 1.5X Long NVDA Daily ETF (NVDL), and the GraniteShares 1.75X Long BABA Daily ETF (BABX).
According to GraniteShares, the funds were created to offer market participants additional leverage towards positions of interest. Each fund invests in financial instruments, such as swap agreements, that provide leveraged exposure to the underlying stock.
Moreover, the three exchange traded funds come attached with a 1.15% expense ratio and will trade alongside GraniteShares other single leveraged stock ETFs.
The other leveraged funds that GraniteShares provides include the GraniteShares 1.25x Long TSLA Daily ETF (TSL), GraniteShares 1x Short TSLA Daily ETF ( TSLI), GraniteShares 1.75x Long AAPL Daily ETF ( AAPB) and the GraniteShares 1.5x Long COIN Daily ETF ( CONL).
Will Rhind, founder and CEO at GraniteShares, stated: “GraniteShares pioneered this market in Europe and we now have a leading franchise offering 106 products on major European exchanges. Short and leveraged single-stock ETFs have been very popular in Europe and we’re excited to now bring ETFs on some of the most popular stocks to the U.S. market.”
Daily price action: META +4.3%, NVDA +3.8%, and BABA +4%.
Year-to-date price action: META -64.6%, NVDA -39.5%, and BABA -24.9%. |
