Thanks very much to everyone who’s joined FinLister Weekly this week. Last week’s open rate was 54% which was great to see you all actually checking it out. Now I can start seeing some regular names on that list;, I’m thinking of a way to reward you for this early loyalty…but more on that later. Enjoy this issue in the mean time. And good luck in the markets this week!
Weekly Changes:
Out of 113 Tech ETFs analysed the average ETF had a down week last week, losing on average -0.75% compared to the previous week’s fall of -1.95%.
This smaller drop was also reflected at the top end with the top 5 having a spread of 5.3% from SSG to REW 2.99% gains compared to 5.8% and 4.5%.
4/5 of those are levered bear ETFs, all rising when the stocks held drop. BLOK, Amplify Transformational Data Sharing ETF was the only non-levered bull ETF to crack the top 5. The next 4 best standard ETFs were IGN, PXQ, ESPO and ITEQ all up just over 1.2% for the week.
The S&P 500 also saw a minor drop of -0.002% compared to the fractional rise of 0.005% during the week before.
Given the down week, it’s not surprising that the top performing ETF was a 2x levered Bear ETF: ProShares Ultra Short Semiconductors. TECS which lead the way last week was 2nd this week. Direxion Daily Technology Bear 3X Shares (TECS). TECS is however, still the second worst performing ETF in the group YTD.
From the top performing standard ETFs, the top 5 performing stocks were mixed well between the group.
$30m microcap NTEC (Intec Pharma) saw a nice pop during the week and was actually up over 100% on Wednesday. NTEC is clinical-stage biopharmaceutical and has both a THC and CBD PK study in the pipeline. A PK or Pharmacokinetic study essentially shows the rate at which drugs are absorbed into the blood stream. I could not find a press release or news article which could give reference to this share price volatility.
I’m very surprised that in 3 weeks of writing this newsletter, a company at the top of the list is so closely related to my last job, which included scoping out a THC/CBD PK study. NTEC is definitely on my watch list now although it is highly unlikely that I will invest in the company.
On the bottom end, most losing stocks were also concentrated into ITEQ (BlueStar Israel Technology ETF).
Year-To-Date:
Of the 107 ETFs which have been around YTD, the average return sits at 11% (down from 12% last week) compared the S&P 500 which just fell back into the red at -0.0009% YTD.
The constituents of the top 5 remained the same, albeit a small change in the order as levered CWEB dropped from 4th to 5th spot, and ARKW climbed up over ARKK.
The best performing Inverse ETF is still REW, which improved to be down just -50%
On the other end of the table the bottom 4/5 ETFs all still had a positive week.
Splitting the top 5 ETFs into their holdings, WCLD currently has the highest mean (on 52 US holdings compared to both ARKs). ARKK dropped slightly from 50% mean to 46%.
The top 5 US listed stocks from this cohort were also unchanged. However, GSX and TSLA switched positions, as TSLA shares fell and GSX shares also rose.
Similarly, the bottom 5 stayed the same and in the same order, with all 5 extending their losses on the year.
Thank again for reading and hopefully you have a bit more information to arm yourself with for this upcoming week. As next week brings a new month, I’ll include a more detailed monthly recap for July (potentially in a separate email).
Feel free to comment on what you’ve seen above and what else you’d like to see as well as share this email with anyone who you think might find it interesting.
If you haven’t already subscribed, that would mean a lot to me.
Best,
Stuart