Funds that make leveraged long bets on Nvidia are seeing inflows and higher trading volume ahead of the company's earnings report.
Investors have been jumping into single-stock funds that track Nvidia ahead of the chipmaker's earnings report Wednesday, making this a key opportunity for a fast-growing corner of the ETF world to prove its worth. The GraniteShares 2x Long Daily Nvidia ETF has attracted more than $500 million of inflows over the last month, and is now over $5 billion in total assets, according to FactSet.
for example, has seen an average of more than 24 million shares traded daily in the third quarter, up from just under 18 million in the second quarter, according to FactSet. The increase holds even if you take out the high activity on Aug. 5, when there was a broad sell-off in the equity market and NVDL volume topped 50 million shares. "Nvidia is the most important stock in the world right now, so therefore it stands to reason that ... there's going to be big demand.
Markets Graniteshares 1.5X Long NVDA Daily ETF T-Rex 2X Long NVIDIA Daily Target ETF Direxion Daily Nvda Bull 2X Shares NVIDIA Corp Exchange-Traded Funds Business News
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