Canadian investors can now trade on Canadian e-commerce firm’s price moves in both directions as LongPoint has launched a double-leveraged inverse ETF on the Toronto Stock Exchange.

LongPoint Asset Management (LongPoint) has introduced the SavvyShort (-2X) Shopify ETF (TSX: SHPD), offering investors two times inverse leveraged (-2X) exposure to Shopify Inc.’s Class A shares. SHPD aims to deliver twice the inverse of Shopify’s daily performance, before fees and expenses This marks the first double-leveraged inverse single stock ETF linked to a major Canadian equity, according to LongPoint. It complements LongPoint’s previously launched SavvyLong (2X) Sh