The 3 ETFs With Highest Exposure To AMC Entertainment Stock

The 3 ETFs With Highest Exposure To AMC Entertainment Stock

Shares of AMC Entertainment were continuing to surge on Wednesday, and the rally could boost the valuation of three ETFs that count AMC among their largest holdings.

Three ETFs have weighting of AMC shares at 2% or higher, according to ETFDB. AMC comprises less than 1% of assets in all other ETFs that hold the movie theater chain's stock. 

The ETF weightings could change along with the share price of AMC and also change during quarterly rebalancing where applicable. Here is a look at three ETFs that have the largest weighting in shares of AMC Entertainment Holdings (NYSE: AMC).

SoFi Social 50 ETF: The SoFi Social 50 ETF (NYSE: SFYFtracks the top 50 U.S. stocks held by investors on SoFi Technologies (Nasdaq: SOFI).

AMC shares represented 11.8% of holdings as of Tuesday, a figure that is set to rise with Wednesday’s price surge. Other large holdings in the ETF include Inc (Nasdaq: AMZN), Apple Inc (Nasdaq: AAPL), Tesla Inc (Nasdaq: TSLA), and GameStop Corp (NYSE: GME).

The SoFi Social 50 ETF saw shares halted on Wednesday due to the increased valuation and exposure to AMC, a move that is uncommon for ETFs. Shares of the ETF are up 15% on Wednesday.

Invesco Dynamic Leisure & Entertainment: This ETF, which offers exposure to 30 of the largest U.S. leisure and entertainment companies, is up 11% Wednesday thanks to the increase in AMC shares.

The Invesco Dynamic Leisure & Entertainment ETF (NYSE: PEJ) counts AMC as the No. 1 holding at 10.2% of assets as of June 1. The next largest holding is Booking Holdings (Nasdaq: BKNG) at 5%.

First Trust Mid Cap Growth: The First Trust Mid Cap Growth AlphaDEX Fund (NYSE: FNYholds 225 stocks. AMC Entertainment is the largest holding at 2.3% of assets as of June 1. The holding in AMC is significant for the ETF, as no other position is worth more than 1% of assets.

The FNY ETF seeks to outperform the Nasdaq US 600 Index with positions in 600 mid-cap U.S. companies. The ETF holds positions in companies with market caps between $1.2 billion and $30.6 billion. The ETF rebalances quarterly. Shares of FNY are up 2% on Wednesday. 

AMC Price Action: Shares of AMC Entertainment gained 95.22% Wednesday, closing at $62.55. 

© 2021 Benzinga does not provide investment advice. All rights reserved.

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