GameStop Stock Rally Passes by Some Previous Winners

The Wall Street Journal2021-08-31

A number of exchange-traded funds that benefited from the early-year surge in meme stocks have since backed away. Many exchange-traded funds that scored big on the meme-stock craze earlier this year ...

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Comments

LST3
2021-09-01
LST3
Ok
Daveb
2021-08-31
Daveb
Lol, isnt it great that they wont give up trying to take away our interest in GME snd AMC ... it simply confirms that Apes DD and theimpending moass are right on target. It is not to late to become involved in what will 100% and defenitly, be the greatest redistribution of wealth in our life time. ??✊???
- Daveb:
  ???✊?
- JasonChang:
  Hodl
Zx1008
2021-08-31
Zx1008
?????
Desmond669
2021-08-31
Desmond669
Ok
LennartM
2021-08-31
LennartM
like n comment please
- Desmond669:
  Yes
- Ivanyzs:
  Ok
Twopackets
2021-08-31
Twopackets
Good knowledge
- Gbear9:
  Yes

Leave a comment

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But by August, GameStop shares represented less than 1% of the fund’s assets. So when the stock took flight again last week, rising nearly 30%, the ETF gained just 2%.\nThe results underscore the swirling dynamics facing fund managers and others at a time of outsize gains in a handful of red-hot stocks. While some ETFs that invested in these firms last year have continued to reap gains, others have retreated from the shares in a bid to reduce risk and ended up missing out on fresh windfalls, potentially pressuring performance.\n“A lot of people say we’re capping the upside, but we’re also mitigating the downside of a single stock that could blow up your investment thesis,” said Matt Bartolini, head of SPDR Americas Research at State Street Global Advisors.\nState Street’s retail ETF, which trades under the ticker symbol XRT, offers a way for investors to bet on a swath of the retail sector, usually giving roughly equal exposure to GameStop as to the industry juggernaut, Amazon.com Inc.\nA big run-up in a particular stock, like with GameStop, over a brief stretch can dramatically reshape the $1.1 billion fund’s makeup. GameStop’s surge made it XRT’s biggest holding in late January and was the key contributor to the ETF’s best month ever. The position was so big, many traders on Reddit and other social-media sites began pitching the ETF as a way to play GameStop when some brokerages blocked users from trading shares.\nGameStop’s big weight also made it a liability a month later: Shares of the videogame retailer fell nearly 70% in February, pulling XRT down 10%.\nWhen the ETF conducted its quarterly rebalance in March, XRT sold enough GameStop shares to bring the stock’s weighting in line with the other holdings. Immediately, the fund’s moves were more subdued even as GameStop shares continued to swing.\nPerformance also has been more muted. XRT shares are little changed this month even as GameStop’s are up 30%.\nThe ETF is “meant to provide exposure to the retail industry. One security shouldn’t dominate the returns,” said Mr. Bartolini. Maintaining broad exposure to all of the fund’s holdings is a goal for the ETF and part of why it isn’t weighted by market capitalization, he said.\nA videogame ETF run by Wedbush and ETFMG also cut back on its hefty GameStop position. Shares of theWedbush ETFMG Video Game Tech ETF, or GAMR, rose 36% in January. The videogame ETF sold GameStop stock in March and led the fund to impose a 15% ceiling on any one holding, said Ted Pollak, founder and president of GAMR’s index provider.\nInvesco’s$1.4 billionDynamic Leisure and Entertainment ETFsold all of itsAMC Entertainment Holdingsshares on June 2 after the position ballooned to 18% of the fund’s assets from 2.7% in March. The reason: The movie-theater chain no longer met the index’s criteria for inclusion.\nThe decision has paid off for fundholders, the firm says. While the ETF is down 5% since the rebalancing, AMC shares have fallen about 16%.\n“It’s a challenging situation for a person to sell on that particular day having seen the stock up more than six times,” said John Hoffman, Invesco’s head of ETFs and indexed strategies for the Americas. “ETFs take some of the emotion out of the process.”","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":818703329,"gmtCreate":1630445638661,"gmtModify":1676530302941,"author":{"id":"3576578158811365","authorId":"3576578158811365","name":"LST3","avatar":"https://static.tigerbbs.com/5ebefe56c7d81742050e1a8d5a94ef9a","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/818703329","repostId":1143612003,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":818201938,"gmtCreate":1630409180224,"gmtModify":1676530295081,"author":{"id":"3575141057639271","authorId":"3575141057639271","name":"Daveb","avatar":"https://static.tigerbbs.com/61df162e1597f1b5a6a6bfb13d7d92f5","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Lol, isnt it great that they wont give up trying to take away our interest in GME snd AMC ... it simply confirms that Apes DD&nbsp;and theimpending moass are right on target. It is not to late to become involved in what will 100% and defenitly, be the greatest redistribution of wealth in our life time. ??✊???","listText":"Lol, isnt it great that they wont give up trying to take away our interest in GME snd AMC ... it simply confirms that Apes DD&nbsp;and theimpending moass are right on target. It is not to late to become involved in what will 100% and defenitly, be the greatest redistribution of wealth in our life time. ??✊???","text":"Lol, isnt it great that they wont give up trying to take away our interest in GME snd AMC ... it simply confirms that Apes DD and theimpending moass are right on target. It is not to late to become involved in what will 100% and defenitly, be the greatest redistribution of wealth in our life time. 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n comment please","listText":"like n comment please","text":"like n comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/818178288","repostId":1143612003,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5704247,"gmtCreate":1630398011208,"gmtModify":1663233162744,"authorId":3562118563279867,"author":{"id":3562118563279867,"authorId":3562118563279867,"name":"Desmond669","avatar":"https://static.tigerbbs.com/e2484115c94d3471cb46f20ea7598b4a","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 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