GDXD and ETCO Experience Significant Inflows in ETFs
ETF Inflows: The ETCO ETF experienced the largest increase in inflows, adding 70,000 units, which represents a 38.9% rise in outstanding units.
Author's Perspective: The opinions expressed in the article are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
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GDXD and ETCO Experience Significant Inflows in ETFs
ETF Inflows: The ETCO ETF experienced the largest increase in inflows, adding 70,000 units, which represents a 38.9% rise in outstanding units.
Author's Perspective: The opinions expressed in the article are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
Thursday's Underperforming Sectors: Insurance Brokers, Banking, and Savings
Market Performance: Banking and savings shares are down approximately 2.3%, with Bank of Montreal falling by 9.5% and Western Alliance Bancorporation by 6%.
Sector Laggards: The decline in banking and savings stocks is highlighted as a significant laggard in the market on Thursday.
Best-Performing Leveraged ETFs of Last Week
Wall Street Performance: Last week, major U.S. stock indices experienced declines due to uncertainties surrounding the presidential election, mixed tech earnings, and disappointing job growth, with the economy adding only 12,000 jobs in October.
Top Performing ETFs: Several leveraged ETFs saw significant gains, including ProShares UltraShort Bloomberg Natural Gas (KOLD) up 26.7%, GraniteShares 2x Short TSLA Daily ETF (TSDD) up 16.8%, and MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD) up 12.3%, driven by factors such as falling natural gas prices and disappointing earnings from Tesla and AMD.
Best Inverse/Leveraged ETFs of Last Week
- Wall Street Performance: Last week, the S&P 500 rose by 1.3%, the Dow Jones increased by 0.3%, and the Nasdaq Composite went up by 2.4% due to various factors like easing inflation, soft manufacturing data, Fed rate cut bets, and a tech rally.
- Tech Stock Inflows: U.S. technology stocks saw significant inflows last week, with nearly $1 billion coming in, marking the highest in over two months after experiencing outflows the previous week.
- U.S. Job Growth: The U.S. economy added 272,000 jobs in May 2024, the highest in five months, surpassing expectations and showing positive growth trends.
- Winning ETFs: Several inverse/leveraged ETFs performed well last week, including ProShares Ultra Bloomberg Natural Gas BOIL, Direxion Daily NVDA Bull 2X Shares NVDU, GraniteShares 2x Long COIN Daily ETF CONL, MicroSectors Gold Miners -3X Inverse Leveraged ETNs GDXD, and MicroSectors Energy 3X Inverse Leveraged ETN WTID.
- Market Factors Impact: Factors such as natural gas demand, AI chip market share, Bitcoin prices, gold prices, and OPEC+ decisions influenced the performance of these winning ETFs.
Exploring TSX Dividend Stocks In May 2024
Weak loonie? These TSX stocks could gain strength, says RBC
GDXD and ETCO Experience Significant Inflows in ETFs
ETF Inflows: The ETCO ETF experienced the largest increase in inflows, adding 70,000 units, which represents a 38.9% rise in outstanding units.
Author's Perspective: The opinions expressed in the article are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
Thursday's Underperforming Sectors: Insurance Brokers, Banking, and Savings
Market Performance: Banking and savings shares are down approximately 2.3%, with Bank of Montreal falling by 9.5% and Western Alliance Bancorporation by 6%.
Sector Laggards: The decline in banking and savings stocks is highlighted as a significant laggard in the market on Thursday.
Best-Performing Leveraged ETFs of Last Week
Wall Street Performance: Last week, major U.S. stock indices experienced declines due to uncertainties surrounding the presidential election, mixed tech earnings, and disappointing job growth, with the economy adding only 12,000 jobs in October.
Top Performing ETFs: Several leveraged ETFs saw significant gains, including ProShares UltraShort Bloomberg Natural Gas (KOLD) up 26.7%, GraniteShares 2x Short TSLA Daily ETF (TSDD) up 16.8%, and MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD) up 12.3%, driven by factors such as falling natural gas prices and disappointing earnings from Tesla and AMD.
Best Inverse/Leveraged ETFs of Last Week
- Wall Street Performance: Last week, the S&P 500 rose by 1.3%, the Dow Jones increased by 0.3%, and the Nasdaq Composite went up by 2.4% due to various factors like easing inflation, soft manufacturing data, Fed rate cut bets, and a tech rally.
- Tech Stock Inflows: U.S. technology stocks saw significant inflows last week, with nearly $1 billion coming in, marking the highest in over two months after experiencing outflows the previous week.
- U.S. Job Growth: The U.S. economy added 272,000 jobs in May 2024, the highest in five months, surpassing expectations and showing positive growth trends.
- Winning ETFs: Several inverse/leveraged ETFs performed well last week, including ProShares Ultra Bloomberg Natural Gas BOIL, Direxion Daily NVDA Bull 2X Shares NVDU, GraniteShares 2x Long COIN Daily ETF CONL, MicroSectors Gold Miners -3X Inverse Leveraged ETNs GDXD, and MicroSectors Energy 3X Inverse Leveraged ETN WTID.
- Market Factors Impact: Factors such as natural gas demand, AI chip market share, Bitcoin prices, gold prices, and OPEC+ decisions influenced the performance of these winning ETFs.
Exploring TSX Dividend Stocks In May 2024
Weak loonie? These TSX stocks could gain strength, says RBC
