ETP provider GraniteShares, which offers several single stock 3x leveraged and 3x short ETPs listed on the London Stock Exchange covering a selection of FTSE 100 companies and popular US tech stocks, has seen a surge in the value of money traded in its Glencore, Rio Tinto, Shell and BP leveraged ETPs as global economies recover and talk of a commodity super cycle intensifies.
In May 2021 GBP7.1 million was traded in the GraniteShares 3x long ETPs of these stocks versus GBP5.3 million traded in April, a 33 per cent increase in trading volume over a single month. In terms of how much was traded in the 3X short ETPs of these stocks, the change was even more pronounced with GBP1.0 million traded in May versus GBP0.26 million in April, a 300 per cent increase further supporting the fact that investors are getting more comfortable expressing their views on single stocks by using GraniteShares short and leveraged single stock ETPs.
Will Rhind, Founder and CEO at GraniteShares, says: “Oil prices have been recovering as Covid-19 vaccination programmes develop around the world and economies recover. A post-coronavirus economic rebound has also helped drive surging prices in a range of commodities.
“All of this makes mining and commodity stocks increasingly appealing, which explains the increased value of trading in our Shell, BP, Glencore and Rio Tinto 3X leveraged ETPs.”
GraniteShares currently offers 54 exchange traded products (ETPs) listed on the London Stock Exchange. They consist of a suite of index ETPs tracking FAANG stocks and a suite of Short and Leveraged Single Stock Daily ETPs tracking some of the most popular companies in UK and US markets.
