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[Alpha Biz=(Chicago) Reporter Paul Lee] Most of the related Exchange Traded Fund (ETF) struggled as secondary battery stocks were greatly adjusted. Investors flocked to Inverse ETF, which is moving in opposition to the stock price of secondary batteries.
On July 27, the closing price of TIGER secondary battery material Fn’ was 7,205 won, down 46.7% from its high point (13,520 won) on July 25. It is also 28% lower than the stock price when it was listed on July 13.
The product came at a time when the secondary battery theme hit the closing price this year, and is the largest ETF bought by individual investors among all ETFs listed in Korea. Individuals' cumulative net purchases amounted to 672.3 billion won for about three months until the 25th of this month after listing. Unlike the previously listed secondary battery ETF, it did not include secondary battery cell companies such as LG Energy Solution, Samsung SDI, and SK Innovation. Only secondary battery material companies such as POSCO Holdings (20.89%), Ecopro (18.71%), Ecopro BM (14.50%) and POSCO FutureM (11.10%) have invested heavily.
It was released in the first half of this year after a strong rise in secondary battery material stocks such as Ecopro, but it has been sluggish in the second half of this year due to lower expectations for growth in the electric vehicle industry.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
