GraniteShares is launching of the world’s first FAANG, GAFAM and FATANG ETPs on the Lonodn Stock Exchange (LSE).
FAANG (Facebook, Amazon, Apple, Netflix and Google), GAFAM (Google, Apple, Facebook Amazon and Microsoft), and FATANG (Facebook, Amazon, Tesla, Apple, Netflix and Google), are acronyms that refer to the most popular and best performing US tech companies. The term FAANG was originally coined by Jim Cramer, the television host of CNBC’s Mad Money, in 2013, who praised these companies for being “totally dominant in their markets”.
GraniteShares’ new product suite, which goes live on the London Stock Exchange (LSE) on 8 March, offers long, short and 3x leveraged ETFs on FAANG, GAFAM, and FATANG indices, and can be traded in a single ticker symbol via ordinary brokerage accounts.
ETPs offer a pure way to gain exposure to top tech companies in the US market. Indices are equally weighted and rebalanced quarterly.
Will Rhind, Founder and CEO at GraniteShares, says: “We are delighted to launch another first to market ETP suite and give investors pure index exposure to FAANG stocks for the first time.
“This ETP family is an opportunity for investors to express their convictions by investing in the index of their choice on an unleveraged or leveraged basis.”
newETFs.io respects the hard work of others and gives all credit to the remarkable folks at ETFexpress.com. This excerpt/article was pulled from their RSS feed; click here to view the original. Please note that on occasion, the RSS feed will not have the author. When this happens this site defaults the author to "News". Make no mistake, this excerpt/article was not created by newETFs.io, it was simply shared with you.