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5 ETFs That Gained 6% Plus in Thursday's Trading Session
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Wall Street rallied on Thursday to end the week in positive territory. This is especially true as cheap valuation has compelled investors to buy stocks at a discount. Additionally, easing inflation and strong manufacturing data bolster confidence. The most beaten-down growth and technology stocks were the biggest beneficiaries.
We have highlighted five of them from different corners of the market that gained more than 6% on the day. These include Simplify Volt Cloud and Cybersecurity Disruption ETF , ETFMG Prime Junior Silver ETF (SILJ - Free Report) , Renaissance IPO ETF (IPO - Free Report) , Amplify Online Retail ETF (IBUY - Free Report) and Invesco WilderHill Clean Energy ETF (PBW - Free Report) .
U.S. manufacturing activity picked up in May as new orders and output growth quickened, suggesting solid demand. Meanwhile, an inflation gauge closely tracked by the Federal Reserve rose 6.3% year over year in April, just below a four-decade high set in March and the first slowdown since November 2020.
Further, the latest Fed minutes rekindled some interest in the stock market as there were no surprises. The minutes showed that the central bank will continue raising interest rates by half-percentage point each in June and July to combat surging inflation and avoid an economic downturn (read: Fed Minutes Rekindle Optimism: 5 ETFs That Surged the Most).
Let’s dig into the detail of the above-mentioned ETFs:
Simplify Volt Cloud and Cybersecurity Disruption ETF – Up 9.6%
Simplify Volt Cloud and Cybersecurity Disruption ETF is a thematic investment product and is actively managed. It is designed to concentrate on those few disruptive companies that are poised to dominate the new era of cloud technology and then enhance the concentrated exposure with options.
Simplify Volt Cloud and Cybersecurity Disruption ETF is a high-cost choice, charging 0.95% in annual fees. VCLO has accumulated $8.4 million in its asset base and trades in an average daily volume of 9,000 shares.
ETFMG Prime Junior Silver ETF (SILJ - Free Report) – Up 8.1%
ETFMG Prime Junior Silver ETF provides direct exposure to the small-cap silver mining exploration and production industry by tracking the Prime Junior Silver Miners & Explorers Index. It holds 57 stocks in its basket, with the Canadian firms taking the lion’s share at 83.5%, while the United States takes 7.1% exposure (read: Can Value ETFs Continue to Outperform Growth?).
ETFMG Prime Junior Silver ETF has managed assets worth $734.6 million and trades in a good volume of nearly 1.8 million shares a day. It charges 69 bps in annual fees.
Renaissance IPO ETF provides exposure to the largest and most-liquid, newly listed companies by tracking the Renaissance IPO Index. It currently holds 100 stocks in its basket, with each accounting for less than 7.2% exposure.
Renaissance IPO ETF has amassed $191.2 million in its asset base while trading in a light volume of about 123,000 shares, probably implying additional cost beyond the expense ratio of 0.60%.
Amplify Online Retail ETF offers global exposure to companies that derive 70% or more revenues from online and virtual retail by tracking the EQM Online Retail Index. IBUY holds 74 stocks in its basket, with none accounting for more than 2.5% of assets. Amplify Online Retail ETF has the largest allocation in traditional retail at 49.5%, followed by 36.9% in the marketplace (read: Wave of Dismal Q1 Earnings Drags Retail ETFs Down).
Amplify Online Retail ETF has attracted $258 million in its asset base and charges 65 bps in annual fees. IBUY trades in an average daily volume of 66,000 shares.
Invesco WilderHill Clean Energy ETF (PBW - Free Report) – Up 6.7%
Invesco WilderHill Clean Energy ETF offers exposure to companies that are publicly traded in the United States and are engaged in the business of advancement of cleaner energy and conservation. It follows the WilderHill Clean Energy Index and holds 79 stocks in its basket.
Invesco WilderHill Clean Energy ETF has amassed $1.1 billion in its asset base and trades in a solid volume of around 337,000 shares a day. It charges investors 61 bps in fees per year.
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5 ETFs That Gained 6% Plus in Thursday's Trading Session
Wall Street rallied on Thursday to end the week in positive territory. This is especially true as cheap valuation has compelled investors to buy stocks at a discount. Additionally, easing inflation and strong manufacturing data bolster confidence. The most beaten-down growth and technology stocks were the biggest beneficiaries.
We have highlighted five of them from different corners of the market that gained more than 6% on the day. These include Simplify Volt Cloud and Cybersecurity Disruption ETF , ETFMG Prime Junior Silver ETF (SILJ - Free Report) , Renaissance IPO ETF (IPO - Free Report) , Amplify Online Retail ETF (IBUY - Free Report) and Invesco WilderHill Clean Energy ETF (PBW - Free Report) .
U.S. manufacturing activity picked up in May as new orders and output growth quickened, suggesting solid demand. Meanwhile, an inflation gauge closely tracked by the Federal Reserve rose 6.3% year over year in April, just below a four-decade high set in March and the first slowdown since November 2020.
Further, the latest Fed minutes rekindled some interest in the stock market as there were no surprises. The minutes showed that the central bank will continue raising interest rates by half-percentage point each in June and July to combat surging inflation and avoid an economic downturn (read: Fed Minutes Rekindle Optimism: 5 ETFs That Surged the Most).
Let’s dig into the detail of the above-mentioned ETFs:
Simplify Volt Cloud and Cybersecurity Disruption ETF – Up 9.6%
Simplify Volt Cloud and Cybersecurity Disruption ETF is a thematic investment product and is actively managed. It is designed to concentrate on those few disruptive companies that are poised to dominate the new era of cloud technology and then enhance the concentrated exposure with options.
Simplify Volt Cloud and Cybersecurity Disruption ETF is a high-cost choice, charging 0.95% in annual fees. VCLO has accumulated $8.4 million in its asset base and trades in an average daily volume of 9,000 shares.
ETFMG Prime Junior Silver ETF (SILJ - Free Report) – Up 8.1%
ETFMG Prime Junior Silver ETF provides direct exposure to the small-cap silver mining exploration and production industry by tracking the Prime Junior Silver Miners & Explorers Index. It holds 57 stocks in its basket, with the Canadian firms taking the lion’s share at 83.5%, while the United States takes 7.1% exposure (read: Can Value ETFs Continue to Outperform Growth?).
ETFMG Prime Junior Silver ETF has managed assets worth $734.6 million and trades in a good volume of nearly 1.8 million shares a day. It charges 69 bps in annual fees.
Renaissance IPO ETF (IPO - Free Report) – Up 6.6%
Renaissance IPO ETF provides exposure to the largest and most-liquid, newly listed companies by tracking the Renaissance IPO Index. It currently holds 100 stocks in its basket, with each accounting for less than 7.2% exposure.
Renaissance IPO ETF has amassed $191.2 million in its asset base while trading in a light volume of about 123,000 shares, probably implying additional cost beyond the expense ratio of 0.60%.
Amplify Online Retail ETF (IBUY - Free Report) – Up 6.1%
Amplify Online Retail ETF offers global exposure to companies that derive 70% or more revenues from online and virtual retail by tracking the EQM Online Retail Index. IBUY holds 74 stocks in its basket, with none accounting for more than 2.5% of assets. Amplify Online Retail ETF has the largest allocation in traditional retail at 49.5%, followed by 36.9% in the marketplace (read: Wave of Dismal Q1 Earnings Drags Retail ETFs Down).
Amplify Online Retail ETF has attracted $258 million in its asset base and charges 65 bps in annual fees. IBUY trades in an average daily volume of 66,000 shares.
Invesco WilderHill Clean Energy ETF (PBW - Free Report) – Up 6.7%
Invesco WilderHill Clean Energy ETF offers exposure to companies that are publicly traded in the United States and are engaged in the business of advancement of cleaner energy and conservation. It follows the WilderHill Clean Energy Index and holds 79 stocks in its basket.
Invesco WilderHill Clean Energy ETF has amassed $1.1 billion in its asset base and trades in a solid volume of around 337,000 shares a day. It charges investors 61 bps in fees per year.