PayPal Holdings Inc (NASDAQ: PYPL) is less than three months removed from its separation from eBay Inc (NASDAQ: EBAY), but that has not prevented PayPal from finding its way into more than 50 exchange traded funds.
ETF allocations to PayPal range from token, or mere tenths of percentage points, to solid with solid being found in the form of the newly minted PureFunds ISE Mobile Payments ETF (NYSE: IPAY). Having debuted in mid-July, IPAY came to market several weeks after eBay spun PayPal off, but the ETF was one of the first to include shares of PayPal. IPAY entered Wednesday with a 5.4 percent weight to the stock, making PayPal the ETF's fourth-largest holding, according to issuer data.
Although shares of PayPal have struggled alongside the broader market since the spinoff, Wall Street is generally bullish on the stock with some analysts forecasting significant upside for the shares. That upside, assuming it arrives, would undoubtedly be a positive catalyst for IPAY.
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/www.benzinga.com/trading-ideas/long-ideas/15/09/5811018/bank-on-paypal-upside-with-this-etf alt=Bank On PayPal Upside With This ETF>Full story available on Benzinga.com
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