Dave Portnoy-Backed Buzz ETF (BUZZ) Debuts on NYSE, Cramer 'Likes It'

The Dave Portnoy-backed ETF Buzz (NYSE: BUZZ) debuted on the NYSE Thursday morning. VanEck is behind the ETF, which is officially named VanEck Vectors Social Sentiment ETF.

BUZZ seeks to track as closely as possible, before fees and expenses, the price and yield performance of the BUZZ NextGen AI US Sentiment Leaders Index (ticker: BUZZTR). This Index, which is rebalanced monthly, is made up of the 75 large cap U.S. stocks that exhibit the highest degree of positive investor sentiment and bullish perception based on content aggregated from online sources including social media, news articles, blog posts and other alternative datasets.

“We are experiencing a monumental moment within the history of the retail investor—Twitter, Reddit, Stocktwits and dozens of other platforms have established communities for investors to discuss stocks and as a result of soaring online engagement they have become an alternative dataset for investors to scour and utilize for a performance edge,” said Ed Lopez, Managing Director, Head of ETF Product for VanEck. “BUZZ empowers individual investors to potentially benefit from the predictive insights gained by measuring the collective convictions about stocks, ultimately building the benchmark for social sentiment.”

Commenting on the new ETF, CNBC's Jim Cramer said he "likes it" and will be "tracking it."

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