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A Feeding Frenzy: GameStop Pulling These ETFs Along for the Ride January 27, 2021
The buying frenzy in GameStop Corp. (NYSE: GME) has lifted a number of sector and thematic exchange traded funds.
Among the best performing non-leveraged ETFs of Wednesday,
Wedbush ETFMG Video Game Tech ETF (NYSEARCA: GAMR), which tracks global companies engaged in supporting or utilizing the video gaming industry, advanced 15.1%. The
Meanwhile, GameStop shares climbed 112% on Wednesday. GME makes up 13.6% of GAMR’s underlying portfolio and 9.5% of XRT. The recent gains in GameStop has caused a sizeable shift in GME’s weight among the ETFs. For instance, XRT, which follows a more equally weighted indexing methodology, shows a pronounced difference between its GME’s position and its second largest position, 1.9% in Blink Charging Co.