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.

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Nvidia Corp Common Stock USD

Technology Select Sector Spdr Fund

Invesco QQQ Trust

Super Micro Computer, Inc.

Eli Lilly & Co

Constellation Energy Corp

Vanguard Financials ETF

Invesco S&P 500 Equal Weight Technology ETF

Energy Select Sector Spdr Fund

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

Trading Ideas

AAPL

MSFT

NVDA

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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.

Jefferies analyst Omar Nokta maintains International Seaways (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INSW#NYSE">INSW</a>) with a Buy and lowers the price target from $66 to $60.

News

Price Target

Analyst Ratings

INSW

Jefferies Maintains Buy on International Seaways, Lowers Price Target to $60

Craig-Hallum analyst Eric Stine maintains Plug Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) with a Buy and lowers the price target from $4 to $3.

PLUG

Craig-Hallum Maintains Buy on Plug Power, Lowers Price Target to $3

WIIM

TNON

Tenon Medical shares are trading lower after the company reported mixed Q3 financial results.

CAVA

CAVA Group shares are trading lower. Morgan Stanley maintained an Equal-Weight rating on the stock.

STLA

TSLA

Trump Transition Plans To Kill $7,500 Consumer Tax Credit For EVs-Sources; Tesla Representatives Support Ending EV Subsidy; EV Subsidy Viewed By Trump Transition As Easy Target For Elimination With Broad Support In New Republican Congress

Jefferies analyst Omar Nokta maintains Teekay Tankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNK#NYSE">TNK</a>) with a Buy and lowers the price target from $72 to $60.

Jefferies Maintains Buy on Teekay Tankers, Lowers Price Target to $60

BKTI

BK Technologies shares are trading higher after the company reported a year-over-year increase in Q3 financial results.

CYBR

CyberArk Software shares are trading higher after multiple firms raised their respective price targets on the stock.

Jefferies analyst Omar Nokta maintains Frontline (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>) with a Buy and lowers the price target from $30 to $26.

Jefferies Maintains Buy on Frontline, Lowers Price Target to $26

PLBY

PLBY Group shares are trading higher after Docler Holding S.a r. l. reported a 16.6% stake in the company.

RIVN

Rivian Automotive shares are trading lower. Goldman Sachs maintained a Neutral rating on the stock.

Jefferies analyst Kaumil Gajrawala maintains BellRing Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRBR#NYSE">BRBR</a>) with a Buy and raises the price target from $61 to $84.

BRBR

Jefferies Maintains Buy on BellRing Brands, Raises Price Target to $84

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling over 50 points on Thursday.
The Dow traded down 0.29% to 43,828.65 while the NASDAQ fell 0.29% to 19,175.65. The S&amp;P 500 also fell, dropping, 0.33% to 5,965.40.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41971544/jim-cramer-recommends-microsoft-praises-american-water-works-for-being-consistent">Jim Cramer Recommends Microsoft, Praises American Water Works For Being &#8216;Consistent&#8217;</a>
Leading and Lagging Sectors Financials shares rose by 0.3% on Thursday.
In trading on Thursday, health care shares fell by 0.9%.
Top Headline
U.S. producer prices rose 0.2% month-over-month in October compared to a revised 0.1% gain in September and in-line with market expectations.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>AgEagle Aerial Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UAVS#NYSE">UAVS</a>) shares shot up 162% to $4.1996 after the company announced 17 new purchase orders for its eBee TAC drones from U.S. defense and security customers.</li>
<li>Shares of Hillenbrand, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HI#NYSE">HI</a>) got a boost, surging 15% to $34.53 following upbeat quarterly results.</li>
<li>Gaxos.ai Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GXAI#NASDAQ">GXAI</a>) shares were also up, gaining 33% to $1.9210 after the company&#8217;s board approved the purchase of up to $1 million in Bitcoin as a treasury reserve asset.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Nuvectis Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVCT#NASDAQ">NVCT</a>) shares dropped 44% to $6.00 after the company reported data from its Phase 1b study evaluating NXP800.</li>
<li>Shares of Sow Good Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOWG#NASDAQ">SOWG</a>) were down 48% to $5.13 after the company reported worse-than-expected quarterly financial results.</li>
<li>Vislink Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VISL#NASDAQ">VISL</a>) was down, falling 25% to $4.8904 after the company reported worse-than-expected third-quarter financial results.</li>
</ul>
Commodities In commodity news, oil traded up 0.2% to $68.54 while gold traded down 0.8% at $2,566.20.
Silver traded down 1.1% to $30.340 on Thursday, while copper fell 0.1% to $4.0780.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 1.03%, Germany's DAX climbed 1.34% and France's CAC 40 gained 1.22%. Spain's IBEX 35 Index gained 1.21%, while London's FTSE 100 rose 0.42%.
Asia Pacific Markets
Asian markets closed lower on Thursday, with Japan's Nikkei 225 falling 0.48%, Hong Kong's Hang Seng Index falling 1.96%, China's Shanghai Composite Index dipping 1.73% and India's BSE Sensex falling 0.14%.
Economics
<ul>
<li>U.S. initial jobless claims declined by 4,000 from the previous week to 217,000 in the week ending Nov. 9, compared to market estimates of 223,000.</li>
<li>U.S. producer prices rose 0.2% month-over-month in October compared to a revised 0.1% gain in September and in-line with market expectations.</li>
</ul>
Now Read This: 
<ul>
<li>N<a href="https://www.benzinga.com/24/11/41971143/nvidia-to-rally-around-23-here-are-10-top-analyst-forecasts-for-thursday">vidia To Rally Around 23%? Here Are 10 Top Analyst Forecasts For Thursday</a></li>
</ul>

Earnings

Equities

Eurozone

Commodities

Intraday Update

Markets

GXAI

NVCT

SOWG

UAVS

VISL

Dow Falls Over 100 Points; US Producer Prices Rise In October

RBC Capital analyst Daniel Perlin maintains Paysafe (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSFE#NYSE">PSFE</a>) with a Sector Perform and lowers the price target from $25 to $21.

PSFE

RBC Capital Maintains Sector Perform on Paysafe, Lowers Price Target to $21

Craig-Hallum analyst Chase Knickerbocker maintains scPharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCPH#NASDAQ">SCPH</a>) with a Buy and lowers the price target from $16 to $12.

SCPH

Craig-Hallum Maintains Buy on scPharmaceuticals, Lowers Price Target to $12

Meme coin season continues with many cryptocurrencies trading higher after Donald Trump won the 2024 presidential election, including a coin based on Peanut the Squirrel, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41949184/elon-musk-endorsed-peanut-the-squirrel-surges-270-to-15-billion-valuation-only-more-wild-moves-ahead-says-millionaire-trader">a social media star.</a>
Here's a look back at how much an investment in Peanut the Squirrel (CRYPTO: PNUT) coin, which is based on the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) blockchain, would be worth today.
What Happened: The price of Peanut the Squirrel coin has soared in recent days, bolstered by the 2024 election outcome and<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41705004/peanut-the-squirrel-themed-meme-coins-surge-amid-social-media-outrage-over-celebrity-anima"> mentions of the viral social media star</a> by Tesla CEO Elon Musk.
Peanut the Squirrel was a rescue squirrel owned by a New York resident. The squirrel attracted a large following on <a href="https://www.instagram.com/peanut_the_squirrel12/?hl=en">Instagram </a>with hundreds of thousands of followers.
New York state officials confiscated and later euthanized Peanut in early November due to alleged potential rabies exposure.
The death of Peanut became a rally cry ahead of the 2024 election and saw mentions from Musk on X.
"President @realDonald Trump will save the squirrels. RIP P'Nut," Musk <a href="https://x.com/elonmusk/status/1852738470017700051">tweeted </a>on Nov. 2.
The Tesla CEO and billionaire later that day shared a meme of a squirrel resembling a jedi.
"If you strike me down, I will become more powerful than you could possibly imagine," Musk said, referring to a quote on the meme with the character being shown as "Obi PNut Kenobi."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"If you strike me down, I will become more powerful than you could possibly imagine" Obi PNut Kenobi <a href="https://t.co/dD2Xo0fSkr">pic.twitter.com/dD2Xo0fSkr</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1852745739379658774?ref_src=twsrc%5Etfw">November 2, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
More mentions of Peanut the Squirrel, the social media star helping Trump win the election and listings of the meme coin on exchanges like Binance have sent the price of the cryptocurrency soaring in recent days, passing a market capitalization of more than $1 billion.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41882591/peanut-the-squirrels-coin-pnut-catapults-343-higher-to-420-million-valuation-the-squirrel-who-saved-the-election-quips-venture-capitalist">Peanut The Squirrel&#8217;s Coin PNUT Catapults 343% Higher To $420 Million Valuation: &#8216;The Squirrel Who Saved The Election,&#8217; Quips Venture Capitalist</a>
Investing $100 In PNUT: Investors who bought PNUT after Musk started mentioning the viral squirrel and meme coin on X have been pleasantly rewarded.
PNUT traded at a high of $0.1258 on Nov. 2 when Musk made his first tweets. An investor buying the coin at the highest price of the day could have purchased 794.9126 PNUT.
Today, the $100 would be worth $1,573.93, up 1,473.9%, based on a price of $1.98 for PNUT at the time of writing.
What's Next: Investors have made big profits in the Peanut the Squirrel meme coin and the Instagram account of the deceased squirrel now has over 900,000 followers.
Some investors believe the meme coin will go higher, citing the potential influence of Musk and<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41410605/if-you-invested-100-in-dogecoin-when-elon-musk-first-tweeted-about-the-meme-crypto-heres-h"> his past comments on </a>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) helping to put attention on that meme coin and sending it higher.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41945111/pepe-listed-on-robinhood-coinbase-reaches-new-all-time-high-on-44-gain-traders-speculate-about-dogecoin-like-run">Wednesday's listing of </a>Pepe coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) on Coinbase and Robinhood has also provided optimism that more meme coins will get listings on major exchanges and could be open to more investment opportunities from mainstream retail investors.
The influence of meme coins is expected to be thoroughly explored at Benzinga's upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/education/24/11/41946785/if-you-invested-100-in-pepe-coin-at-launch-heres-how-much-youd-have-today">If You Invested $100 In Pepe Coin At Launch, Here&#8217;s How Much You&#8217;d Have Today</a></li>
</ul>
Image via Wikimedia Commons

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Education

$DOGE

$PEPE

$SOL

If You Invested $100 In PNUT Meme Coin When Elon Musk Tweeted About Social Media Squirrel, Here's How Much You'd Have Today

ELVA

Trading Halt: Halted at 12:16:05 p.m. ET - Trading Halt: Halt News Pending

Craig-Hallum analyst Chase Knickerbocker maintains KORU Medical Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRMD#NASDAQ">KRMD</a>) with a Buy and raises the price target from $4 to $5.

KRMD

Craig-Hallum Maintains Buy on KORU Medical Systems, Raises Price Target to $5

In a recent Fox News Digital interview, Bernie Moreno, a business owner and now political figure, didn't mince words on <a href="https://www.benzinga.com/startups/24/10/41291635/are-trumps-proposed-corporate-tax-cuts-the-key-to-unleashing-a-stock-market-boom-heres-what-history">U.S. trade policies</a>: tariffs are here to stay. He's making waves with his strong support for keeping tariffs, even as some industry leaders push for reductions.&nbsp;
Moreno's perspective, shaped by his experience building a car dealership network and his recent political win, is rooted in a vision of economic protectionism that aims to keep jobs and businesses within the U.S.&nbsp;
Don't Miss:
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<li>‘Scrolling to UBI': Deloitte's #1 fastest-growing software company allows users to earn money on their phones –<a href="https://www.benzinga.com/money/mode-mobile-2"> invest today with $1,000 for just $0.25/share</a></li>
<li>The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a></li>
</ul>
He echoes recent administrations&#8217; sentiments, stressing the need for a tax system that rewards companies that bring jobs back to America while discouraging those that offshore them.
Trade policies in the U.S. have shifted recently, with tariffs on Chinese goods becoming a strategy staple. Under former President <a href="https://www.benzinga.com/startups/24/10/41561517/trump-pushes-forward-with-controversial-tariff-plan-despite-growing-backlash-from-voters-who-strongl">Donald Trump,</a> tariffs were introduced on many Chinese imports, setting a barrier of about 10 to 20 percent on goods coming in from overseas.&nbsp;
Trending: With over 7.8K investors including Meta, Google, And Amazon Execs — this AI Startup's valuation has skyrocketed from $5 million to $85 million in just three years. <a href="https://www.benzinga.com/money/rad-ai">Be an early investor with just $1,000 for only $0.50/share today before the offer closes in 2 weeks.</a>
Moreno's stance shows he supports encouraging investment in U.S. industries and keeping foreign competition at bay. But there's a catch: according to the Tax Foundation, U.S. businesses and consumers are now shouldering an estimated $77 billion in extra costs due to these tariffs on Chinese products.
U.S. Trade Rep. Katherine Tai argues that tariffs are essential to support American workers and maintain critical supply chains. However, Tai and other experts acknowledge the downsides, noting that tariffs can increase costs for essential components in industries like manufacturing and electronics.
See Also: Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target –<a href="https://www.benzinga.com/money/mode-mobile-2"> You can still get 4,000 of its pre-IPO shares for just $1,000</a>
The debate around tariffs, especially broad ones like those currently in effect, is far from settled. According to the Tax Foundation, tariffs on Chinese goods alone add about $77 billion in extra costs annually to U.S. businesses and consumers. This &#8220;trade tax&#8221; filters down, raising consumer prices and straining the wallets of everyday Americans.
Sen. Sherrod Brown, a former competitor of Moreno's, calls for a more nuanced approach. Brown advocates for selective <a href="https://www.benzinga.com/startups/24/10/41561517/trump-pushes-forward-with-controversial-tariff-plan-despite-growing-backlash-from-voters-who-strongl">tariffs – </a>focusing on imports like Chinese electric vehicles – that protect U.S. industries critical to national security without overburdening other sectors.&nbsp;
Brown has suggested that the economic well-being of Americans is best served by focusing tariffs on strategic imports rather than blanketing an entire economy with them.
Read Next:
<ul>
<li>This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro, and Sweetgreen in just three years –<a href="https://www.benzinga.com/money/rad-ai"> here's how there's a limited time opportunity to invest at $1,000 for only $0.50/share before closing date.</a></li>
<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?</li>
</ul>

Startups

Bernie Moreno Says U.S. Tariffs Are Here To Stay – Predicts Trade Policies Will Remain Unchanged Despite Industry Pushback

Arrow Electronics's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARW#NYSE">ARW</a>) short percent of float has risen 8.32% since its last report. The company recently reported that it has 2.65 million shares sold short, which is 6.51% of all regular shares that are available for trading. Based on its trading volume, it would take traders 6.48 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Arrow Electronics Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1731604523_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Arrow Electronics has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Arrow Electronics's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Arrow Electronics's peer group average for short interest as a percentage of float is 4.27%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into Arrow Electronics's Recent Short Interest

Adaptive Growth Opportunities ETF declares $0.0415 dividend

AGOX: Sell This And Buy Treasuries

AGOX: Is This A 5 Star ETF?

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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