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‘Bored’ Millennial Day Traders Boost Airline ETF’s Assets 2,930%

  • JETS held as little as $33 million in assets in early March
  • Young day traders behind ETF’s explosive growth: CEO Holmes
United Targets Big Spenders With First Class To Small Cities
Photographer: Daniel Acker/Bloomberg
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A once-obscure ETF tracking airlines soared past $1 billion, largely bolstered by day trading.

The US Global Jets exchange-traded fund, ticker JETS, posted its 64th consecutive day of inflows on Tuesday, according to data compiled by Bloomberg. Its growth has been staggering: The ETF held just $33 million in early March as the coronavirus pandemic grounded global air travel. The fund’s top holdings are the four major U.S. airlines, though it said last week that it will begin investing in Canadian carriers as well.