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$1.44—
Leverage Shares 3x Alibaba ETP Securities is an exchange-traded product (ETP) designed to provide three times (3x) the daily return of Alibaba Group Holding Ltd. ADR stock. It tracks the iSTOXX Leveraged 3x BABA Index through physical replication, investing directly in the underlying Alibaba shares and using margin borrowing to achieve the leveraged exposure. For instance, a 1% daily rise in Alibaba ADR aims to deliver a 3% gain in the ETP, excluding fees, while a 1% decline targets a 3% loss, highlighting its amplified performance characteristics. Key features include an intraday rebalance mechanism to mitigate large falls, full ownership of underlying assets minimizing credit risk, and liquidity from multiple market makers, enabling equity-like trading without futures or margin accounts. Issued by Leverage Shares plc, an Ireland-domiciled firm, it carries a 0.75% annual management fee, accumulates dividends, and maintains a USD base currency. In financial markets, this ETP serves sophisticated investors seeking magnified short-term exposure to Alibaba, a leading e-commerce and technology giant, though daily compounding and volatility can lead to returns diverging significantly from 3x over longer periods. With assets under management around EUR 11 million as of recent data, it underscores the demand for single-stock leveraged instruments in equity strategies.