This ETF Is Feasting on SpaceX Stock. It's Also a Play on a Possible Tesla Acquisition.
The Baron First Principles ETF has quickly asserted itself as the primary ETF proxy on SpaceX stock.
This ETF Is Feasting on SpaceX Stock. It's Also a Play on a Possible Tesla Acquisition.
Overview
Accounting for markets being closed on Friday, June 19, in observance of the Juneteenth holiday, Space Exploration Technologies (NASDAQ: SPCX) has just five trading days under its belt, but that's enough time for an array of exchange-traded funds (ETFs) to have gotten involved with the stock.
Just five days after the largest initial public offering (IPO) in history, 28 ETFs feature Elon Musk's reusable rockets company among their top 15 holdings. The leader of that pack is the Baron First Principles ETF (NYSE: RONB), which, as of June 17, had a 31.2% weight to SpaceX, or more than double the allocation to the fund's second-largest holding.
This ETF has a substantial stake in SpaceX stock. Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
