4 ETFs That May Include GoPro

The hotly-anticipated initial public offering of GoPro GPRO this week is one of the largest consumer electronics debuts of the decade.

Shares surged more than 30 percent on Thursday from its IPO opening price of $24 per share, as the company raised $427 million in cash.

The initial success of GoPro may soon pave the way for entry into a number of exchange-traded funds in the near future as well.

The most likely ETF to get the first shot at adding this high definition video maker is the Renaissance IPO ETF IPO. This fund allows new publicly-traded companies to be added to its index on the fifth day of trading, and subsequently removes any stocks that have more than two years of history. 

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It also allows for a speedy adoption of new companies with the diversification qualities inherent in every ETF. IPO currently has exposure to 66 stocks of liquid and economically significant companies, with an expense ratio of 0.60 percent.

A similar ETF that focuses on initial public offerings is the First Trust US IPO Index Fund FPX. This fund screens the top 100 largest and best performing companies in the IPOX Global Composite Index. 

If GoPro continues to build upon the initial positive momentum from its debut, in addition to attracting suitable volume, it could also, eventually, find its way into FPX down the road. 

Another suitable home for this technology stock would be the iShares North American Tech ETF IGM. This fund provides specific exposure to 267 domestic electronics, software and hardware companies. Because GoPro is a technology-based company and headquartered in San Mateo, California, it could certainly qualify for this regional index. 

Lastly, the PowerShares DWA Technology Momentum Portfolio PTF should be considered as a potential suitor for GoPro.This ETF is constructed of nearly 50 holdings in primarily small and mid-cap technology companies that are exhibiting the best relative strength of their peers. That criterion certainly fits the first impressions from this new offering, and it may be considered a good fit for PTF in the future. 

While it could take several months before these ETFs adopt a new entrant into their ranks, it certainly bears keeping an eye on these technology indexes as they change over time.