5 ETFs Popular on Robinhood

2. Global X FinTech ETF (NASDAQ:FINX)

Global X FinTech ETF (NASDAQ:FINX) is an exchange traded fund that invests at least 80% of total assets in securities on an index that tracks the performance of firms that provide financial technology and related services in developed markets. 

A flagship holding of the Global X FinTech ETF (NASDAQ:FINX) is PayPal Holdings, Inc. (NASDAQ:PYPL), a business that provides digital payment solutions. At the end of the fourth quarter of 2021, 110 hedge funds in the database of Insider Monkey held stakes worth $9.9 billion in PayPal Holdings, Inc. (NASDAQ:PYPL), compared to 123 in the preceding quarter worth $12.8 billion.

In its Q4 2021 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and PayPal Holdings, Inc. (NASDAQ:PYPL) was one of them. Here is what the fund said:

“PayPal Holdings, Inc. (NASDAQ:PYPL) enables digital payments for consumers and merchants worldwide. Shares fell after the company reported lower-than-expected quarterly results, and reduced guidance due to the faster roll-off of eBay’s processing business and slowing e-commerce growth as stores reopen. Shares were also pressured by rumors of a potential acquisition of Pinterest, as well as broader weakness across payment stocks during the quarter. We believe the share price decline is overdone given quarterly revenue growth of 25% (excluding eBay), and PayPal’s unmatched global scale with 416 million active accounts. We continue to own the stock because we believe PayPal Holdings, Inc. (NASDAQ:PYPL) is a prime beneficiary of the secular growth of e-commerce and digital financial services.”