VanEck Social Sentiment ETF (NYSE:BUZZ) started trading today and investors will want to know more about the Dave Portnoy new fund.
Here’s everything worth noting about BUZZ ETF.
- The ETF makes its investment decisions based on the talk of social media users.
- This has it making use of artificial intelligence (AI) that scans websites for chatter about stocks.
- The company then invests in those stocks, so long as they have a minimum market capitalization of $5 billion.
- It’s worth noting that this could basically have the company taking interest in stocks that are the target of a pump and dump by day traders.
- While that may seem like a bad idea, it’s likely the company has already taken this into consideration with its investments.
- According to BUZZ ETF, the company’s AI algorithm has successfully beat out the S&P 500 over the last year.
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- The ETF changes up its investments every month to cover 75 large-cap U.S. stocks.
- It provides a list of its holdings and how much of its current investments each one represents on its website.
- Investors that want to see the top 10 stocks the BUZZ ETF is holding at launch can check that here.
- BUZZ caught the interest of investors this morning with its launch and has traded more than 11 million shares as of this writing.
- Dave Portnoy, a social media celebrity and founder of Barstool Sports, is throwing support behind the ETF.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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The post BUZZ ETF: 11 Things to Know as Dave Portnoy’s Social Media Fund Starts Trading appeared first on InvestorPlace.
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