An ETF that generated headlines in October 2022 is shutting down. The ETF gave investors a way to bet against investor and television personality Jim Cramer.
Here are the details and why the decision to shut the fund was made.
What Happened: First announced in October 2022, Tuttle Capital launched two ETFs to track the stock picks of Cramer. One was to the long side betting on his stock picks made on television and X and one was to the short side betting against the picks made by Cramer, commonly known as Inverse Cramer.
The Long Cramer ETF was shut down in September 2023 and the Inverse Cramer now follows the same path. On Thursday, it was announced that the Northern Lights Fund Trust IV Inverse Cramer ETF (BATS:SJIM) will be shutting down and liquidating.
The board of trustees of the fund determined liquidation was in the best interest of shareholders. The last day of trading for the ETF will be Feb. 13. The fund is expected to distribute proceeds to shareholders on Feb. 23.
"We started (the fund) in order to point out the danger of following TV stockpickers, Jim Cramer specifically, and the total lack of accountability," Tuttle ...Full story available on Benzinga.com
Related tickers: KRE, NVDQ, SKRE, SJIM, TSLT, TSLZ, NVDX.
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