Courtesy of Benzinga via MarketWatch
The hotly-anticipated initial public offering of GoPro GPRO +8.52% this week is one of the largest consumer electronics debuts of the decade.
Shares surged more than 30 percent on Thursday from its IPO opening price of $24 per share, as the company raised $427 million in cash.
The initial success of GoPro may soon pave the way for entry into a number of exchange-traded funds in the near future as well.
The most likely ETF to get the first shot at adding this high definition video maker is the Renaissance IPO ETF IPO +0.09% . This fund allows new publicly-traded companies to be added to its index on the fifth day of trading, and subsequently removes any stocks that have more than two years of history.
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It also allows for a speedy adoption of new companies with the diversification qualities inherent in every ETF. IPO currently has exposure to 66 stocks of liquid and economically significant companies, with an expense ratio of 0.60 percent.
A similar ETF that focuses on initial public offerings is the First Trust US IPO Index Fund FPX -0.06% . This fund screens the top 100 largest and best performing companies in the IPOX Global Composite Index.
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