Adaptive Alpha Opportunities ETF (ARCA: AGOX)

Latest news for Adaptive Alpha Opportunities ETF (ARCA:AGOX)

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The Funds portfolio manager seeks to achieve the Funds investment objective of capital appreciation by investing in exchange-traded funds that are registered under the Investment Company Act of 1940, as amended in the 1940 Act and not affiliated with the Fund that invest in equity securities of any market capitalization of issuers from a number of countries throughout the world, including emerging market countries. In addition to its indirect investments, the Fund may also invest directly in individual large cap equities and fixed income securities, as well as put and call options on index ETFs, sector ETFs, individual equities, and cash and cash equivalents as part of its risk management strategy. The Fund is considered diversified under the 1940 Act.

Invesco QQQ Trust

Technology Select Sector Spdr Fund

Vaneck Vectors Semic

Meta Platforms, Inc.

Nvidia Corp Common Stock USD

Microsoft Corp

Energy Select Sector Spdr Fund

Fair Isaac Corp

Spdr S&P Capital Markets Etf

Adaptive Alpha Opportunities ETF

Adaptive Investments - CIO Of Innovative Fund Reveals His Expectations For 2023 At Benzinga’s ETF Unlocked

ETFs

AGOX

AMAX

RHTX

RHRX

Benzinga recently hosted its virtual event, ETF Unlocked, bringing together important thought leaders in the space to share their expertise and discuss current and future trends.

Adaptive Investments - CIO Of Innovative Fund Reveals His Expectations For 2023 At Benzinga&#39;s ETF Unlocked

The ETF Universe Is Deep And Diverse, And Opportunity Is Everywhere – A Look At Some Of The Most Interesting Niche Ideas Out There

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AAPL

MSFT

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TACBY

GMVHY

ORFN

The biggest development in capital markets over the course of the last decade has been the explosion of indexing and passive and active investing through ETFs.

JP Morgan analyst Samik Chatterjee maintains Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) with a Overweight and raises the price target from $245 to $265.

News

Price Target

Analyst Ratings

JP Morgan Maintains Overweight on Apple, Raises Price Target to $265

– Collaboration combines Dren's targeted cell depletion platform with Novartis research, development and commercial expertise to advance innovative therapies for cancer –
– Dren Bio to receive total upfront consideration of $150 million and is eligible to receive milestone payments and tiered royalties –
Dren Bio, Inc. ("Dren Bio" or the "Company"), a privately held, clinical-stage biopharmaceutical company developing antibody therapeutics for cancer, autoimmune, and other serious diseases, today announced that it has entered into a strategic collaboration with Novartis Pharma AG, a subsidiary of Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>). The collaboration will focus on the discovery and development of therapeutic bispecific antibodies for cancer using Dren Bio's proprietary Targeted Myeloid Engager and Phagocytosis Platform.

Biotech

General

Dren Bio Announces Strategic Collaboration with Novartis To Develop Novel Targeted Myeloid Engagers For Cancer; Dren Bio To Receive Total Upfront Consideration Of $150M And Is Eligible To Receive Milestone Payments And Tiered Royalties

WIIM

NUWE

Nuwellis shares are trading lower after the company announced the pricing of a $2 million public offering of 469,340 common shares at $4.24 a share.

Tower Semiconductor Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSEM#NASDAQ">TSEM</a>) reported a fiscal second-quarter 2024 revenue decline of 1.7% year-on-year to $351.2 million, beating the <a href="https://www.benzinga.com/pressreleases/24/07/g39927653/tower-semiconductor-reports-2024-second-quarter-financial-results" target="_blank" rel="noreferrer noopener">analyst consensus estimate of $350.1 million</a>.
The Israel-based contract chipmaker's adjusted EPS of $0.53 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $0.45</a>.
Gross profit was $86.9 million, up 0.5% Y/Y.&nbsp;The margin improved by 53 bps to 24.8%. Operating profit of $55.1 million climbed 9%&nbsp;Y/Y.
The company generated $113 million in operating cash flow and held $1.23 billion in cash and equivalents&nbsp;as of June-end.
Outlook: Tower Semiconductor expects third-quarter revenue of $370 million, with an upward or downward range of 5% versus the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">$369.9 million consensus</a>.
Tower Semiconductor has been asked by the Indian government to revise its chip fabrication unit proposal to include a technology partner offering advanced nodes for manufacturing, Economic Times <a target="_blank" href="https://economictimes.indiatimes.com/tech/technology/govt-asks-israels-tower-to-rework-chip-fab-proposal/articleshow/110341422.cms?from=mdr" rel="noreferrer noopener">reported</a> in May.
The government prefers Tower Semiconductor to focus on 28 nm, 40 nm, 55 nm, and 65 nm nodes instead of just the proposed 180 nm node plan.
Tower Semiconductor has submitted an $8-10 billion proposal for a unit in India, potentially making it one of their largest, but faces legal challenges following the fallout with joint venture partner Next Orbit Ventures.
Tower Semiconductor stock gained 18% in the last 12 months.
<h2 class="wp-block-heading">TSEM Stock Prediction 2024</h2>
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of Tower Semiconductor have an average 1-year price target of $49.67, representing an expected upside of 20.31%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Tower Semiconductor, while 3 analysts have bullish ratings. The street high price target from Susquehanna is $55.0, while the street low from Craig-Hallum is $44.0.
TSEM Price Action: Tower Semiconductor shares traded lower by 2.46% at $40.27 premarket at the last check Wednesday. 
Photo via Shutterstock

Earnings

Equities

Guidance

Media

TSEM

Tower Semiconductor Shares Fall on Q2 Revenue Decline: Details

Stifel analyst Benjamin Nolan maintains Scorpio Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STNG#NYSE">STNG</a>) with a Buy and raises the price target from $84 to $86.

STNG

Stifel Maintains Buy on Scorpio Tankers, Raises Price Target to $86

Blue Foundry (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLFY#NASDAQ">BLFY</a>) reported quarterly losses of $(0.11) per share which beat the analyst consensus estimate of $(0.21) by 47.62 percent. This is a 37.5 percent decrease over losses of $(0.08) per share from the same period last year. The company reported quarterly sales of $10.109 million which beat the analyst consensus estimate of $9.441 million by 7.08 percent. This is a 10.43 percent decrease over sales of $11.286 million the same period last year.

Earnings Beats

BLFY

Blue Foundry Q2 2024 GAAP EPS $(0.11) Beats $(0.21) Estimate, Sales $10.109M Beat $9.441M Estimate

Clearwater Paper To Sell Tissue Business To Sofidel America For $1.06B; Transaction To Reduce Net Debt And Advance Transformation Into Premier Independent Supplier Of Paperboard To North American Converters

RNAZ

TransCode Therapeutics Files For Offering Of Up To 10M Shares Of Common Stock

JP Morgan analyst Doug Anmuth maintains Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) with a Overweight and raises the price target from $200 to $208.

GOOG

GOOGL

JP Morgan Maintains Overweight on Alphabet, Raises Price Target to $208

Stifel analyst Benjamin Nolan maintains International Seaways (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INSW#NYSE">INSW</a>) with a Buy and raises the price target from $68 to $72.

INSW

Stifel Maintains Buy on International Seaways, Raises Price Target to $72

Stifel analyst Benjamin Nolan maintains DHT Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHT#NYSE">DHT</a>) with a Hold and raises the price target from $12 to $13.

Stifel Maintains Hold on DHT Holdings, Raises Price Target to $13

SIFY

Sify Technologies Receives Nasdaq Notice Of Non-Compliance With Minimum Bid Price Rule; ADSs Below $1.00 For 31 Consecutive Days

The Hematocrit Feature Will Be Integrated Into A Future Generation Blood Volume Analyzer (BVA)
Oak Ridge, TN, July 24, 2024 (GLOBE NEWSWIRE) -- Daxor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXR#NASDAQ">DXR</a>), the global leader in blood volume measurement technology, today announces that Daxor has received a $550K matching-fund extension from the U.S. Defense Health Agency (DHA) to its Phase II SBIR contract. This additional funding will support adding hematocrit measurement to a future generation blood volume analyzer. The upgrade eliminates the need for hematocrit testing from third-party devices to perform the BVA test.

Contracts

Daxor Awarded $550K U.S. Defense Health Agency Contract For Added Capabilities To Its Point-Of-Care Blood Volume Analyzer

Management

Metalla Royalty & Streaming Appoints Jason Cho As President Effective Immediately

SolarMax Technology, Inc. (Nasdaq SMXT) ("SolarMax" or the "Company"), an integrated solar energy company, announced that it plans to offer engineering, procurement and construction services, known as EPC services, for large scale solar systems in the United States, which would include both solar power and EV charging stations. As the initial step in this business plan, SolarMax has signed a non-binding memorandum of understanding for its first major commercial solar installation project in the United States. This proposed project, to be located in Las Vegas, marks a potentially significant milestone in SolarMax' strategy to offer large scale EPC services in the U.S. EPC services encompass the comprehensive management of a solar project from the initial feasibility studies and design through procurement and construction.

Global

SMXT

SolarMax Technology Plans To Offer Engineering, Procurement And Construction Services In The United States; Signs MOU For First Major Commercial Solar Installation Project

Stifel analyst Benjamin Nolan maintains Costamare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMRE#NYSE">CMRE</a>) with a Hold and raises the price target from $12 to $14.

CMRE

Stifel Maintains Hold on Costamare, Raises Price Target to $14

Keybanc analyst Thomas Blakey maintains Appian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPN#NASDAQ">APPN</a>) with a Overweight and raises the price target from $37 to $41.

APPN

Keybanc Maintains Overweight on Appian, Raises Price Target to $41

Studies Pre-Funded, No Additional Capital Needed; Expected Completion Early Q3 2024

MGRX

Mangoceuticals Initiates Efficacy Studies On Patented Respiratory Illness Prevention Technology In Collaboration With Vipragen Biosciences And IntraMont Technologies

PMEC

Primech Holdings FY24 Revenue $72.5M, Up 5.1% YoY, Contracted Revenues As Of Mar 31 Were $144.4M

LCNB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCNB#NASDAQ">LCNB</a>) reported quarterly earnings of $0.29 per share which beat the analyst consensus estimate of $0.18 by 61.11 percent. This is a 35.56 percent decrease over earnings of $0.45 per share from the same period last year. The company reported quarterly sales of $19.30 million which beat the analyst consensus estimate of $17.20 million by 12.19 percent. This is a 8.27 percent increase over sales of $17.82 million the same period last year.

LCNB

LCNB Q2 Adj $0.29 Beats $0.18 Estimate, Sales $19.30M Beat $17.20M Estimate

Adaptive Growth Opportunities ETF declares $0.0415 dividend

Benzinga recently hosted its virtual event, ETF Unlocked, bringing together important thought leaders in the space to share their expertise and discuss current and future trends.

Scott Wetherington, CIO of <a href="https://www.adaptiveetfs.com/">Adaptive Investments</a>, participated in the event. Adaptive Investments offers 4 ETFs that are actively managed. The ETFs include the Adaptive Alpha Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGOX#NYSE">AGOX</a>), RH Hedged Multi-Asset Income ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMAX#NYSE">AMAX</a>), RH Tactical Outlook ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RHTX#NYSE">RHTX</a>) and RH Tactical Rotation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RHRX#NYSE">RHRX</a>).&nbsp;

Mr Schoffstall, speaking of his fund&rsquo;s strategy, stated, &ldquo;[Precious Minerals] is a part of the market that&rsquo;s been really underappreciated in recent years, I think, and it&#39;s just starting to get its due&hellip;just the last year alone, in the critical minerals space, we&rsquo;ve seen about 1.1 trillion invested on a global scale.&rdquo;

Watch the full interview here:

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" frameborder="0" height="315" src="https://www.youtube.com/embed/0pOjoM1FtWM?start=2560" width="560"></iframe>

Featured photo by<a href="https://unsplash.com/@tprahm?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText"> Tyler Prahm</a> on<a href="https://unsplash.com/s/photos/etf?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText"> Unsplash</a>

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

Adaptive Investments - CIO Of Innovative Fund Reveals His Expectations For 2023 At Benzinga's ETF Unlocked

The biggest development in capital markets over the course of the last decade has been the explosion of indexing and passive and active investing through ETFs. In many ways, the ETF Universe has become so significant that it has become the tail that often wags the dog &ndash; meaning ETF fund flows and re-balancing are frequently a driver of the entire market and price action in hundreds of major U.S. equities.&nbsp;

The space has become so deep &ndash; and in many ways complex &ndash; that it is difficult for retail investors to have a clear picture of the ever-changing landscape. For this reason, sticking to large, highly-liquid, well-known ETF issues is oftentimes the casual investor&rsquo;s best bet. With this being the case, however, there are bound to be opportunities and inefficiencies in smaller, more obscure funds.&nbsp;

What does this look like in a practical sense? First, many ETFs can be purchased at a discount to their net asset value. The theory behind this strategy is basically that you can sometimes buy a basket of assets that have a market value of $1.00 for $0.90 or even $0.80. These are very attractive opportunities and they occur quite often. It is not free money, however, as oftentimes discounts to NAV can persist for long periods of time due to a variety of factors.&nbsp;

Additional edges that investors can look to exploit in the ETF ecosystem include emerging, alpha-creating managers in the active space, niche strategies that have significant upside potential, concentrated portfolios and/or sector- or strategy-specific allocations that are likely to outperform, ETFs that run covered-call strategies to create income, among others. It is hard to understate the diversity of ETFs in 2023.

Let&rsquo;s take a look at some of the more niche-specific funds that are trading today. The first crop of funds is offered by Adaptive Investments and a number of the firm&rsquo;s ETFs stick out for two reasons &ndash; the portfolios are either entirely or mostly made up of other ETFs and a number of these vehicles have very attractive long-term performance records.&nbsp;

The Adaptive Alpha Opportunities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGOX#NYSE">AGOX</a>) seeks capital appreciation, using ETFs and equities, and also may access fixed-income securities for diversification purposes. It is actively managed, with the goal of creating risk-adjusted alpha. The fund provides tremendous diversification - top current holdings include cash, the Invesco DB Agriculture ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBA#NYSE">DBA</a>), the Technology Select Sector SPDR ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), iShares MSCI EAFE ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFA#NYSE">EFA</a>), which holds international equities, the Invesco DB Commodity Index Tracking Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBC#NYSE">DBC</a>) and many other popular liquid ETFs.&nbsp;

The ability to deploy capital in a tactical fashion and the fund&rsquo;s diversification have led to some solid returns over the last decade &ndash; just under 10%. Two other ETFs that certainly fit the niche and unique parameters of this article are from Roundhill Investments, which has a large portfolio of funds. The firm&rsquo;s two largest ETFs, however, are probably the most interesting.&nbsp;

The Roundhill Ball Metaverse ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/METV#NYSE">METV</a>) has been a relative hit with investors as AUM stands at roughly $460 million. The fund is currently trading mostly in line with NAV. As of its most recent quarterly filing, the ETF&rsquo;s top holdings were Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), ROBLOX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>), Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).&nbsp;

Not surprisingly, the fund got killed over the last 52 weeks, falling 25%. In 2023, however, shares have climbed 31% after last year&rsquo;s drubbing. Investors should look at this fund as a mix of big-cap and mid-cap tech with a slant toward metaverse exposure. Currently, this is a fairly contrarian space. On a longer-term horizon, however, this fund would certainly seem to have a real opportunity to outperform. It appears to be an elegant, diversified, high-risk investment vehicle that could make an attractive portfolio addition over a 5- to 10-year investment horizon.&nbsp;

The other Roundhill issue that is quite interesting is the Roundhill Sports Betting &amp; iGaming ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BETZ#NYSE">BETZ</a>), which currently has assets well over $100 million. This is a niche product that seeks to ride the global wave in gambling and gaming. One of the distinguishing aspects of this fund is its international diversity &ndash; more than 15% of assets are in Australia, 10% in Malta, Britain has 8%, and Sweden, Ireland, and Gibraltar are also home to portfolio companies.&nbsp;

A third of BETZ&rsquo;s AUM is invested in the United States. Top Holdings include Kindred Group PLC (STO: KIND-SDB), Tabcorp Holdings Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TACBY#OTC">TACBY</a>), and Entain PLC (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GMVHY#OTC">GMVHY</a>). The ETF had 35% of its assets in Sportsbooks, 24% in iGaming, 21% in tech, and 18% in casinos as of the last reporting period. Given market conditions, it is of little surprise that BETZ has seen a 22% decline over the last year, but since the ETF&rsquo;s 2020 inception, it is essentially flat.&nbsp;

This is a product that investors may want to look at if the NASDAQ starts to percolate again in the coming months. Its international footprint, niche technology and gambling and gaming focus, and relatively small AUM among other factors also make this an interesting trading vehicle if and when the heady days of the NASDAQ return.&nbsp;

The final ETF that has an attention-grabbing and very interesting strategy is Constrained Capital&rsquo;s ESG Orphans ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORFN#NYSE">ORFN</a>). In terms of the application of unique, contrarian thinking, in the pursuit of alpha, ORFN might just deserve an A!&nbsp;

The Constrained Capital ESG Orphans ETF seeks to track the performance of the Constrained Capital ESG Orphans&rsquo; Index, which is comprised of US equity securities of publicly traded mid and large-cap US-listed companies in the fossil fuel, nuclear energy, weapons and munitions, tobacco, alcohol, and gaming sectors.&nbsp;

The fund is based on the thesis that ESG investing has created price distortions (i.e. value) in non-ESG sectors. It&rsquo;s an elegant idea. In addition to energy companies, defense companies, etc., ORFN also has a heavy tilt towards vice stocks in the alcohol, tobacco, and gaming industries. Oftentimes, this is sticky revenue that is not highly dependent on broader economic trends.&nbsp;

Familiar names that show up in ORFN&rsquo;s portfolio iniclude Exxon Mobil Copr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), Philip Morris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>), Lockheed-Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>), Diageo Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEO#NYSE">DEO</a>) and Anheuser-Busch Inbev SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>). The other feature of this ETF that can be seen in its 52-week and YTD returns is its low-beta, which is to be expected. Over the last year, ORFN has climbed better than 4% in a tough market environment while remaining largely unchanged in 2023 vs. a 7% rise for the S&amp;P 500.

Bringing things full circle, part of the strategy and thesis for ORFN, is to make contrarian bets against the ESG space, specifically because of the large, passive, capital in-flows that ESG has seen in recent years. It could very well be a perfect example of how ETFs have and will continue to wag the tail of the dog, triggering both market price distortions and opportunity!&nbsp;

Featured photo by <a href="https://unsplash.com/@wance0003000">Wance Paleri</a> on <a href="https://unsplash.com/photos/s7gyjnH7Ulk">Unsplash</a>

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