An exchange-traded fund provider is helping investors place more bets on Wall Street’s most profitable momentum trades.
GraniteShares launched its first single-stock ETFs in 2017 2022now manages 20 of them. it includes GraniteShares YieldBoost TSLA ETF (TSYY)launched last month. The fund allows investors to invest in Tesla.
GraniteShares CEO William Rhind said in an interview with CNBC: “This means that more and more people are taking charge of their own finances.” “ETF Edge” This week. “They want to be able to actively manage this and maybe try to outperform the market…and that’s where we see leverage, individual stocks, etc. really come into play.”
He called the demand a “global phenomenon” because it’s not just an opportunity for U.S. investors.
“Investors around the world are looking first to the U.S. ETF market because it is the largest source of liquidity,” Rhind added. “They’re looking for a name they know and love – the Teslas of the world (and) NVIDIAof the world. They are only available in the United States, which is why people come here to trade them.
But the company acknowledges that the strategy isn’t right for everyone.
GraniteShares discloses in bold type on its website: “Investing in these ETFs involves significant risks.”
As of Friday’s close, Tesla shares were nearly $100, or about 19%, below their all-time high set on December 18.
