Article by Edward Sheldon
Our 5 Most Traded Single-Stock ETFs in September
October 12, 2026 | Research Insights
While the S&P 500 was close to flat in September1, huge moves unfolded beneath the surface. From a surge in AI stocks to a sharp drop in large-cap bank stocks, there was significant stock price volatility.
As earnings results, interest rate expectations, and shifting sector momentum triggered swings in individual stock prices, active traders used leveraged and inverse ETFs to capitalize on these moves. With that in mind, here are the five single-stock ETFs that saw the highest level of trading volume on our platform last month.
Leverage Shares 2x Long TSLA Daily ETF (TSLG)
The most actively-traded product in September was the Leverage Shares 2x Long TSLA Daily ETF (TSLG). This aims to offer 2X daily exposure to Tesla stock, before fees and charges.
In September, there was a considerable news flow in relation to Tesla. This drove volatility in its stock price.
Early in the month, the stock fell sharply after CEO Elon Musk failed to turn up to the company’s Cybercab launch at Austin, Texas2. Given that Cybercab is expected to be a major growth driver for the company, Musk’s lack of presence disappointed investors.
Shortly after this, Musk revealed that Tesla would unveil its long-delayed Roadster on October 13. Note that this launch has since been delayed due to bad weather.
Later in the month, Tesla said that it is beginning deliveries of its Semi trucks – which were first unveiled in 2017 – to an initial set of customers. It reiterated plans to build 50,000 Semis a year at its Nevada plant4.
At the end of September, Tesla stock was trading at $3551. According to investing.com, the average analyst price target is $3965.
Source: Google Finance, as of October 6, 2026
Leverage Shares 2x Long SPCX Daily ETF (SPCH)
The second most traded single-stock ETF in September was the Leverage Shares 2x Long SPCX Daily ETF (SPCH). This aims to offer 2X daily exposure to SpaceX stock, before fees and charges.
Like Tesla, SpaceX saw a substantial amount of news flow in September. This led to significant stock price movements at times.
On September 16, SpaceX stock jumped after a bullish post from Ark Investment Management portfolio manager Cathie Wood on social media platform X. Her view is that each Starship launch could potentially generate $1 billion in revenue in the future6.
Speaking of Starship, it successfully reached orbit for the first time on September 28. This mission successfully released 26 Starlink V3 satellites into orbit, marking the first deployment of functional payloads rather than test mass simulators7.
Also in September, it came to light that Anthropic has agreements with SpaceX subsidiary xAI that could result in up to $84.5 billion of spending for computing capacity through 20298. This announcement underscored the strong demand for the company’s computing infrastructure.
At the end of September, SpaceX stock was trading at $1511. The average price target, according to investing.com, is $2275.
Source: Google Finance, as of October 6, 2026
Leverage Shares 2x Short SPCX Daily ETF (SSPC)
Following SPCH in terms of trading volume was the Leverage Shares 2x Short SPCX Daily ETF (SSPC). This aims to offer 2X short daily exposure to SpaceX stock, before fees and charges.
As for why this product was in demand, it’s most likely related to SpaceX’s valuation. For most of the month, the company’s market cap was hovering around the $2 trillion mark1.
That’s a high valuation given that revenue is only expected to be around $45.5 billion this year. It translates to a forward-looking price-to-sales ratio of over 409.
Note that on September 11, China Merchants Securities initiated coverage of the stock with a $118 price target and a Sell rating5. Other firms with Sell ratings on SpaceX include DZ Bank and Phillip Securities5.
Leverage Shares 2x Long SNDK Daily ETF (SNDG)
The fourth most traded single-stock ETF was the Leverage Shares 2x Long SNDK Daily ETF (SNDG). This aims to offer 2X daily exposure to SanDisk stock, before fees and charges.
On September 18, SanDisk stock jumped 11.0% ahead of its inclusion in the S&P 10010. Because passive funds tracking this index were required to adjust their holdings to reflect SanDisk's inclusion before Monday, September 21, the stock experienced a massive influx of mandatory buying volume toward the market close.
SanDisk then enjoyed another rally on September 22 after Rosenblatt initiated coverage of the stock with a Buy recommendation and a price target of $2,4005. In a research report, analyst Kevin Cassidy argued that SanDisk's memory chips are moving from commodity products into the realm of mission-critical AI hardware.
At the end of the month, SanDisk stock was trading at $1,7401. The average price target, according to investing.com, is $2,1365.
Source: Google Finance, as of October 6, 2026
Leverage Shares 2x Long CRCL Daily ETF (CRCG)
Finally, we have the Leverage Shares 2x Long CRCL Daily ETF (CRCG), which was the fifth most bought single-stock ETF in September. This aims to offer 2X exposure to Circle Internet stock, before fees and charges.
Circle stock had a volatile month. Early in the month, the stock rallied after Bitcoin hit a three-month high1.
However, it then pulled back sharply after Senators voted 50-49 to block the Clarity Act’s advancement11. Note that one provision of the act would have prohibited paying interest on stablecoins, which may have benefited Circle by levelling the playing field (it does not pay interest on stablecoins while some other providers do).
The stock ended the month at $821, after beginning the month near $85. The average price target, according to investing.com, is currently $1055.
Source: Google Finance, as of October 6, 2026
Footnotes:
1Google Finance, as of October 6, 2026
2Reuters, Tesla falls as Cybercab launch leaves investors wanting more, as of September 4, 2026
3Reuters, Tesla signals Oct 1 launch for long-delayed Roadster, as of September 12, 2026, as of September 12, 2026
4Reuters, Tesla is beginning Semi electric truck deliveries (updated), as of September 25, 2026
5Investing.com, as of October 6, 2026
6Reuters, SpaceX rises after Ark's Cathie Wood estimates $10 trillion Starship revenue by 2030, as of September 16, 2026
7Reuters, SpaceX's Starship makes orbital debut deploying Starlinks before early ending (updated), as of September 28, 2026
8Reuters, Macquarie maintains bullish view on SpaceX after AI agreements, Starship mission success, as of September 30, 2026
9LSEG, as of October 6, 2026
10Yahoo Finance, Why Did SanDisk Stock Jump?, as of October 2, 2026
11Yahoo Finance, Why Circle Internet Group Stock Was Crushed Today, as of September 16, 2026
