Top Canadian Funds Holding Shopify Stock

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Post on Nov 13, 2024

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Canadian Funds Riding the Shopify Wave: Who's Got the Goods?

You know Shopify, right? The Canadian e-commerce giant that's been killing it for years? Well, lots of Canadian investors are betting big on them, and they're doing it through mutual funds. These funds pool money from tons of investors and use it to buy stocks – including Shopify.

But which Canadian funds are the biggest Shopify fans? Let's dive in and see who's got the biggest stake in this e-commerce powerhouse.

The Big Players: Funds with a Shopify Crush

So, the big guns are out there, and they're holding Shopify like it's gold. We're talking about funds with serious capital and a strong belief in Shopify's potential.

• iShares S&P/TSX 60 Index Fund (XIC): This fund is a beast, tracking the performance of the S&P/TSX 60 Index, which includes Shopify. So, if you're looking for broad exposure to Canadian stocks, including Shopify, XIC is a solid choice.

• Vanguard FTSE Canada All Cap Index ETF (VCN): Another big one! This ETF tracks the FTSE Canada All Cap Index, giving you a diversified slice of Canadian companies – you guessed it, including Shopify!

• BMO Equal Weight Banks Index ETF (ZEB): Okay, this might surprise you. While primarily focused on Canadian banks, ZEB also includes a fair amount of Shopify stock. It's a sign of the growing influence Shopify has in the Canadian market.

Why the Love for Shopify?

Shopify's popularity among Canadian funds isn't a coincidence. This company has a ton going for it:

• Domination of E-commerce: They've got a huge piece of the e-commerce pie, helping businesses of all sizes sell online.

• Strong Growth: Shopify's been growing like crazy, and investors are betting on that trend continuing.

• Canadian Pride: As a Canadian company, Shopify resonates with investors who want to support homegrown success.

But Wait, There's More!

These are just a few of the major Canadian funds holding Shopify. It's worth doing your own research to find other funds with a similar focus. You can check fund websites, financial news sites, and even talk to a financial advisor to find the best fit for your investing goals.

So, What's the Bottom Line?

If you're a Canadian investor looking for exposure to Shopify, consider exploring these top funds. They're a good way to diversify your portfolio and ride the wave of e-commerce growth, even if you can't get your hands on Shopify stock directly.

Remember: This is just a starting point. Investing in the stock market comes with risks, and you should always consult with a professional before making any decisions.