A new ETF may soon allow investors to bet against the stock picks of market personality Jim Cramer
- Investors may soon be able to bet against the stock recommendations of market personality Jim Cramer.
- Tuttle Capital Management has filed a preliminary ETF prospectus with the SEC that includes the Long Cramer ETF and the Inverse Cramer ETF.
- The strategies would track the stock recommendations of Jim Cramer and either buy them or short them.
Tuttle Capital Management has filed an ETF prospectus with the SEC that, if launched, would allow investors to bet against the stock recommendations made by market personality Jim Cramer.
The Inverse Cramer ETF would track the stock recommendations made throughout the day by Cramer via both his Twitter account and his regular appearances on CNBC, and do the exact opposite of those recommendations.
This isn't the first time Tuttle Capital has launched an ETF that seeks to bet against the stock picks of well-known investors. The firm launched the Short Innovation ETF late last year to great success, with the fund surging more than 85% since inception and attracting nearly $350 million in assets under management.
That fund seeks to deliver inverse returns related to Cathie Wood's ARK Disruptive Innovation ETF.
If Tuttle's launch of the SARK ETF is any indication, the Jim Cramer ETF launch is nothing personal against Cramer himself. Rather, it's launching a product that is wanted by market participants.
And to that point, Tuttle also plans to launch the Long Cramer ETF, according to the prospectus, which would buy the stocks recommended by Cramer.
Matthew Tuttle, founder and CEO of Tuttle Capital Management, declined to provide comment to Insider because of an ongoing quiet period related to the new ETFs.
Cramer's stock picks have become somewhat of a punching bag on social media in recent years. A Twitter account dubbed the "CramerTracker" has attracted more than 110,000 followers. "Tracking the stock recommendations of Jim Cramer so you can do the opposite," the Twitter account says. The Twitter account has no affiliation with Tuttle.
If launched, the Inverse Cramer ETF would trade under the ticker symbol "SJIM" and the Long Cramer ETF would trade under the ticker symbol "LJIM."
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