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GameStop, Chewy And More: These Are The Stocks Being Added To The Dave Portnoy-Backed ETF

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GameStop, Chewy And More: These Are The Stocks Being Added To The Dave Portnoy-Backed ETF

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.

“Ryan Cohen was vocal about transforming GME’s business model from a brick-and-mortar approach to a digital one. With its ‘meme stock’ status and epic short squeeze history behind it, online conversation now routinely reviews the fundamental prospects and the future of the company,” BUZZ Holdings Founder Jamie Wise said of the new addition GameStop Corp (NYSE: GME). “The April rebalance is one of the most active in recent months.”

GameStop recently hit the $5 billion market cap required to be included in the ETF.

The 21 stocks added to the BUZZ ETF are:

  • GameStop Corp 
  • Palantir Technologies (NYSE: PLTR)
  • ViacomCBS (NASDAQ: VIAC)
  • Rocket Cos (NYSE: RKT)
  • Lockheed Martin Corp (NYSE: LMT)
  • United States Steel Corp (NYSE: X)
  • Intel Corp (NASDAQ: INTC)
  • Chewy Inc (NYSE: CHWY)
  • Unity Software (NYSE: U)
  • Crowdstrike Holdings (NASDAQ: CRWD)
  • Discovery Inc (NASDAQ: DISCA)
  • Snowflake Inc (NYSE: SNOW)
  • Visa Inc (NYSE: V)
  • Citigroup Inc (NYSE: C)
  • Macy’s Inc (NYSE: M)
  • Applied Materials Inc (NASDAQ: AMAT)
  • FedEx Corp (NYSE: FDX)
  • Altria Group (NYSE: MO)
  • Starbucks Corp (NASDAQ: SBUX)
  • RH (NYSE: RH)

Top Holdings: The BUZZ Index counts the following as its top holdings as of Thursday morning:

Apple Inc (NASDAQ: AAPL): 3.3%

  • Amazon.com Inc (NASDAQ: AMZN): 3.2%
  • Square Inc (NYSE: SQ): 3.2%
  • Tesla Inc (NASDAQ: TSLA): 3.2%
  • NVIDIA Corp (NASDAQ: NVDA): 3.1%
  • Boeing Co (NYSE: BA): 3.0%
  • Advanced Micro Devices (NASDAQ: AMD): 2.9%
  • Novovax Inc (NASDAQ: NVAX): 2.9%
  • Walt Disney Corp (NYSE: DIS): 2.9%
  • Facebook Inc (NASDAQ: FB): 2.6%
  • ETF Performance: The VanEck Vectors Social Sentiment ETF is up 15% year-to-date. The ETF has over $350 million in assets according to ETFDB.com.

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.

See also: How‌ ‌to‌ ‌Buy‌ ‌GameStop‌ ‌(GME)‌ ‌Stock‌

 

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Posted-In: BUZZ Index Dave Portnoy Jamie Wise Ryan CohenNews Specialty ETFs Top Stories ETFs Best of Benzinga

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