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BUZZ ETF dips in trading debut as investors pass on internet-favorite stocks

BUZZ ETF dips in trading debut as investors pass on internet-favorite stocks


Getty Images / Cliff Hawkins



The VanEck Vectors Social Sentiment ETF, which trades as BUZZ, fell as much as 3.4% in its trading debut.



The ETF follows an index that scrubs internet platforms for stocks enjoying strong positive sentiment.



Barstool Sports founder Dave Portnoy endorsed the fund on Tuesday, praising it as an effective tool for tracking online traders' favorite picks.



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The VanEck Vectors Social Sentiment ETF, an exchange-traded fund that follows stocks trending online, dropped as much as 3.4% on its first day of public trading.The ETF, which trades under the ticker BUZZ, aims to capitalize on the growing use of online platforms as a sounding board for trade ideas. The fund tracks an index that scrubs websites like Reddit, StockTwits, and Twitter to determine which stocks are garnering the most positive sentiment online. Holdings are then weighted accordingly.Twitter, DraftKings, and Ford are the fund's biggest holdings as of Thursday. That lineup will be rebalanced each month to better adhere to online stock-search trends.BUZZ traded at $23.61 per share as of 11:05 a.m. ET.
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