NKE - These ETFs are in focus ahead of Nike's earnings

2023-03-21 11:45:11 ET

Nike ( NYSE: NKE ) is scheduled to deliver its earnings report after the closing bell on Tuesday. Whatever figures the shoe and athletic apparel maker announces, investors can get more out of their predictions by using leveraged ETFs tied to the stock.

The AXS 2X NKE Bull Daily ETF ( NASDAQ: NKEL ) and the AXS 2X NKE Bear Daily ETF ( NASDAQ: NKEQ ) are two leveraged funds that aim to offer 2x and -2x of the daily performance of common shares of Nike.

Analysts are looking for the company to post earnings per share of $0.54 and revenue of $11.44B.

Meanwhile, investors can also use ETFs to take a more cautious approach to betting on Nike's earnings. Using these investment vehicles offers exposure to the stock, while also providing some diversification.

NKE is found in 292 different funds. Below are the five that offer the heaviest weightings towards the stock:

• Optimize AI Smart Sentiment Event-Driven ETF ( OAIE ) at 7.01% weighting.
• Consumer Discretionary Select Sector SPDR ETF ( XLY ) at 4.53% weighting.
• Monarch Blue Chips Core ETF ( MBCC ) at 4.16% weighting.
• Direxion Daily Consumer Discretionary Bull 3X Shares ( WANT ) at 3.86% weighting.
• American Century Focused Dynamic Growth ETF ( FDG ) at 3.70% weighting.

In other ETF news, Roundhill Investments announced the launch of a Big Bank ETF, which aims to offer investors exposure to the largest and most liquid U.S. bank stocks on the market.

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