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BUZZ tracks the 5-year-old Buzz NextGen AI US Sentiment Leaders Index and rebalances once a month. The ETF is up nearly 5% since its March 2 debut.
Though names such as Amazon, Apple, Advanced Micro Devices and Tesla are among its top holdings, BUZZ isn t all high-flying growth stocks or tech stocks, Wise told CNBC s ETF Edge on Monday.
Ford, American Airlines and Novavax have been some of the index s top performers, and the latest monthly rebalancing brought even more value into the mix, he said.
Names like Costco, Target, Occidental Petroleum, Norwegian Cruise Lines and United Airlines are now in the index. Wise called it a shift more towards those industrial and value names, away from some of the higher-growth tech names.
Barstool Sports Dave Portnoy has joined BUZZ and VanEck in launching a social media sentiment ETF.
Sentiment shown in social media and retail trader discussions could be a key to alpha - BUZZ CEO.
These are the three strategies BUZZ is using to tap into chatter on social media.
Since the start of 2021, markets have faced a new reality - the power of the retail trader.
Whether they are forcing hedge funds to back out of bets against unpopular stocks, sending shares in tiny companies up by 1,000%, or taking Bitcoin to the moon , these social-media-centered traders can move markets. January s almost unprecedented volatility was testament to that.
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Jamie Wise, founder of BUZZ Holdings and president and CEO of Periscope Capital, recently joined Benzinga’s The ETF Show. Wise discussed the new
VanEck Vectors Social Sentiment ETF (NYSE: BUZZ), which began trading on March 4.
What Is BUZZ? The BUZZ ETF holds 75 stocks with at least a $5 billion market cap that are generating the most social media mentions. The ETF made headlines when influential Barstool Sports Founder Dave Portnoy announced his involvement.
The BUZZ ETF is new, but it s based on the Buzz NextGen AI U.S. Sentiment Leaders Index, which has been around since 2015.
“We look back over a rolling four-quarter period,” Wise said. “We want to identify sentiment shifts from a universe of stocks that are being talked about consistently day-in, day-out regardless of news flow, regardless of an earnings release.”
Marché : Un fonds indiciel pour miser sur ce qui fait le buzz sur les réseaux sociaux tradingsat.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tradingsat.com Daily Mail and Mail on Sunday newspapers.