An exchange-traded fund provider is helping investors make more bets on Wall Street's most profitable momentum trades.
GraniteShares, which issued its first tranche of single-stock ETFs in 2022now managing 20 of them. It includes the GraniteShares YieldBoost TSLA ETF stock price historylaunched last month. The fund provides access to Tesla investors.
“This is about more and more people being in charge of their own finances,” GraniteShares CEO William Rhind told CNBC. “ETF Edge” this week. “They want to be able to actively manage that and maybe try to get better performance… That's where we see things like leverage, single stocks really play out.”
He says demand is “a worldwide phenomenon” because it's not just an opportunity for US investors.
“We have investors around the world who are looking to the US ETF market first because that's the biggest source of liquidity,” Rhind said. “They're looking to the names which they know and love – the Teslas of the world (and) the Nvidiain the world. They're only available here in the US, and that's why people come here to trade them.”
But the company admits that the strategy is not suitable for everyone.
GraniteShares includes a bold disclosure on its website: “Investing in these ETFs involves significant risks. “
As of Friday's close, Tesla stock is nearly $100, or about 19%, off its all-time high — hit on Dec. 18.
