Dave Portnoy-Backed ETF Gets $280 Million Despite First-Day Drop
- BUZZ inflows among highest for a debut: Bloomberg Intelligence
- Fund fell amid broad market selloff but interest remained high
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A slump on its first day of trading proved no deterrent for investors piling into the new online sentiment ETF backed by Dave Portnoy.
The VanEck Vectors Social Sentiment exchange-traded fund (ticker BUZZ) fell alongside most U.S. stocks in its debut on Thursday, but still managed to attract $280 million of inflows, according to data compiled by Bloomberg.