Virgin Galactic’s best day in 6 months boosts space ETFs

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Exchange-traded funds holding shares of Virgin Galactic Holdings Inc. took flight Monday as the stock price soared 20% after positive analyst coverage, on track for its best day since April 14. The Procure Space ETF , with 5.2% of its portfolio in the stock, was up 3.1% in the late morning, while the SPDR S&P Aerospace & Defense ETF , which has a 4.3% share, also gained 3.1%. The SPDR S&P Kensho Final Frontiers ETF , which has 4.7% in the company, had not traded Monday morning. “We see SPCE as an innovator of space technology with a truly unique offering that will allow civilians and professionals alike to access space for entertainment and research purposes,” wrote SIG analysts as they initiated coverage with a positive rating. The company is one of the only true space plays in ETFs like these, which also contain many stocks that invest in the infrastructure to enable space travel.
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