An ETF that counts Dave Portnoy as an investor in the underlying index announced its April rebalance on Thursday.
What Happened: On the third Thursday of each month, the VanEck Vectors Social Sentiment ETF (NYSE:BUZZ) rebalances its index of 75 stocks.
The ETF, which launched on March 4, holds 75 large-cap U.S. stocks which show the most positive investor sentiment using artificial intelligence to track social buzz.
Portnoy promoted the new ETF in March saying the new fund is something “that I am part of, that I am putting my face behind, my reputation behind.”
Related Link: How The Dave Portnoy-Backed Social Sentiment ETF Actually Works
The New Names: The April rebalance saw 21 new stocks and 21 stocks out, which includes several notable names.
GameStop recently hit the $5 billion market cap required to be included in the ETF.
The 21 stocks added to the BUZZ ETF are:
Top Holdings: The BUZZ Index counts the following as its top holdings as of Thursday morning:
Apple Inc (NASDAQ:AAPL): 3.3%
The algorithm behind the ETF beat the S&P 500 by 42% in 2020, Portnoy said. The BUZZ Index has outperformed the S&P 500 since the index launched in 2015.
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