A New ETF Named BUZZ Wants to Ride the Reddit-Trading Revolution
- VanEck offering tracks same index as fund that closed in 2019
- Dave Portnoy promoted product in Twitter video on Tuesday
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Looking to cash-in on the hype around online stock promotion, VanEck Associates Corp. is starting a new exchange-traded fund that purports to track the 75 most-favorably mentioned companies on the internet.
Launching on Thursday, the VanEck Vectors Social Sentiment ETF (ticker BUZZ) follows an index that scours online sources including social media, news articles and blogs for equity-specific messages and posts, according to a statement from the firm.