Breaking News
Get 45% Off 0
🌊 NVIDIA ripple effect: Track AI stocks' response to chip giant's earnings
Explore AI Stocks

6 Top-Performing ETFs of Last Week

By Zacks Investment ResearchStock MarketsFeb 16, 2021 01:00AM ET
www.investing.com/analysis/6-topperforming-etfs-of-last-week-200561103
6 Top-Performing ETFs of Last Week
By Zacks Investment Research   |  Feb 16, 2021 01:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
AAPL
-2.70%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
GME
+0.78%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
TSLA
-3.96%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
IXIC
+0.26%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
PYPL
-2.73%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
UXXc2
+1.62%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Wall Street was muted last week. The S&P 500, the Dow Jones and the Nasdaq Composite added about 0.6%, 0.3% and 0.6% past week, respectively. The week was marked by the bitcoin rally, some Reddit bets and uptrend in some cyclical sectors. Below we highlight a few winning ETFs that returned 10% last week.

Transformational Data Sharing Amplify ETF BLOK – Up 23.6%

Last week can easily be attributed to Tesla-driven bitcoin rally. Bitcoin climbed around 20% on Feb 8 after the world’s largest electric-car maker Tesla (NASDAQ:TSLA) announced that it has purchased $1.5 billion worth of bitcoin. Bitcoin crossed the 47,000 mark on Feb 8. Corporations’ greater acceptance in allowing customers to hold bitcoin and other virtual coins in their online wallets has been favoring the cryptocurrency.

Before this, PayPal Holdings Inc (NASDAQ:PYPL) had also announced such a move. Per the latest developments, Apple (NASDAQ:AAPL) Pay users can now spend in bitcoin and other cryptocurrencies. Though bitcoin ETFs are not available to investors, they have blockchain ETFs at their disposal. Per a source, “the blockchain in Bitcoin literally acts a ledger; it keeps track of the balances for all users and updates them as money changes hands.” Hence, the blockchain ETF BLOK gained materially last week.

Breakwave Dry Bulk Shipping ETF BDRY – Up 21.4%

The pickup in global economic growth has supported the dry bulk shipping rates. Gradually rising demand across all vessel categories have probably been aiding the area and the related fund (read: Top & Flop Zones of 2020 and Their ETFs).

The underlying index of the fund Capesize 5TC Index, Panamax 4TC Index & Supramax 6TC measures rates for shipping dry bulk freight. It provides exposure to the dry bulk shipping market through a portfolio of near-dated freight futures contracts on dry bulk indices.

Amplify Seymour Cannabis ETF CNBS – Up 19.1%

After the world's largest video game retailer GameStop (NYSE:GME) and Silver, Reddit’s discussion has now popularized marijuana stocks like Sundial Growers Inc. (NASDAQ:SNDL) (up 78.8% on Feb 10) and Tilray (NASDAQ:TLRY) (up more than 50% on Feb 10). The pending merger between Tilray and Aphria (NASDAQ:APHA) was supposedly the main driver of the promotion for the latter.

Apart from Sundial Growers and Tilray, Canopy Growth (NASDAQ:CGC) Corporation (CGC), Aurora Cannabis Inc. (NYSE:ACB) and Aphria Inc. (APHA) also gained 6.3%, 21.2% and 10.7% on Feb 10, respectively. Such price actions boosted the pot ETF CNBS (read: Marijuana ETFs on a High on Reddit Frenzy).

Simplify Volt Fintech Disruption ETF VFIN – Up 12.9%

The actively managed Simplify Volt Fintech Disruption ETF looks to concentrate in those few disruptive companies poised to dominate the new era of fintech and then enhance the concentrated exposures with options. The COVID-19 outbreak has brightened the necessity of the tech-driven and contactless transactions. The latest bitcoin rally has probably been befitting the fintech space.

Northshore Global Uranium Mining ETF URNM – Up 12.2%

Uranium equities had a great week thanks to positive business fundamentals. As quoted on the S&P Global Market Intelligence report, TD Securities analyst Greg Barnes wrote in a Feb 3 note “that a subreddit named r/UraniumSqueeze was created Feb 1 on the Reddit website amid a retail-driven rally in silver markets and had already accrued about 500 members. Users on the social media site called on other day-by-day investors to invest in the radioactive metal.” The very news probably boosted uranium prices and the mining companies’ ETF like URNM.

Graniteshares Platinum Shares ETF PLTM – Up 12.0%

The white metal – platinum – is gaining steam of late. In fact, platinum rallied to its highest level in more than six years to above $1200 per ounce with analysts predicting more upside in the coming months given increasing demand and tightening supply conditions. Moreover, it is an industrial metal. Upbeat sentiments about the global economic recovery has also been aiding the metal (read: Platinum Hits 6-Year Highs: ETFs to Tap the Rally).

Want key ETF info delivered straight to your inbox?

Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

Zacks Investment Research

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

6 Top-Performing ETFs of Last Week
 

Related Articles

6 Top-Performing ETFs of Last Week

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Apple
Continue with Google
or
Sign up with Email