Bed Bath & Beyond Surge Lifts ETFs
Bed Bath & Beyond Inc. surged in premarket trading on Monday, doubling in value after Ryan Cohen revealed that he had a nearly 10% stake in the company. Cohen is the co-founder of online retailer Chewy and is also chairman of GameStop.
Using the Stock Finder tool shows that the stock is held within 82 different ETFs, with the largest holder being the Invesco S&P SmallCap Consumer Discretionary ETF (PSCD), with a 1.45% allocation to the stock. This ETF tracks a market-cap-weighted index of consumer discretionary firms selected from the S&P SmallCap 600.
Along with small cap ETFs, the stock is also found in thematic ETFs such as the Principal Millennials ETF (GENY) and the Global X Millennial Consumer ETF (MILN), along with active ETFs such as the Cambria Shareholder Yield ETF (SYLD).
Though the stock isn’t a significant holding within any ETF, the performance stands out against a backdrop where most equities have generally struggled.
The stock is up 84% year-to-date. This is in comparison withto the SPDR S&P 500 ETF Trust (SPY), which is down 9.7% for the year, and the iShares Core S&P Small-Cap ETF (IJR) that’s fallen by 7.5% over the same time period.
Contact Jessica Ferringer at jessica.ferringer@etf.com or follow her on Twitter
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