An exchange-traded fund set up to track CNBC personality Jim Cramer's stock picks is closing, while a fund that fades his stock selections will continue.
An exchange-traded fund set up to buy stocks recommended by CNBC personality Jim Cramer will be closed and liquidated, its provider said Monday.
“We started LJIM in order to facilitate a conversation with Jim Cramer around his stock picks as the other side to the Short Cramer ETF SJIM, ” said Matthew Tuttle, the fund’s adviser, in the news release. The Long Cramer ETF opened at $24.96 on March 2, according to FactSet. It surged in June and early July, closing at a high of $29.42 on July 19. It’s retreated sharply in August, falling 12.1% so far this month, ending Monday at $25.79.The Inverse Cramer ETF, as would be expected, fell sharply in June and early July, but is up 13.1% in the month to date. The Long Cramer ETF is up 3.3% since its launch, while the Inverse Cramer ETF is down 3.9%.
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