EXCLUSIVE: Long Jim Cramer ETF Shutting Down — 'Jim's Stock Picks Have Been Suspect To Say The Least'
Portfolio Pulse from Chris Katje
The Long Cramer Tracker ETF (BATS:LJIM), one of two ETFs launched by Tuttle Capital to align with Jim Cramer's stock recommendations, is set to shut down. The fund will be liquidated and assets distributed back to shareholders on Sept. 21, 2023. The other ETF, the Inverse Cramer Tracker ETF (BATS:SJIM), will remain open. The decision to close LJIM was made after Cramer and CNBC ignored the funds. The Inverse Cramer ETF trades at $23.93, while the Long Cramer Tracker ETF trades at $25.79.
August 22, 2023 | 3:01 pm
News sentiment analysis
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POSITIVE IMPACT
Jim Cramer has been a fan of NVIDIA Corporation (NASDAQ:NVDA) and has recommended the stock several times in 2023.
Cramer's continued support for NVDA could potentially lead to an increase in its price as investors follow his recommendations.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
The Inverse Cramer Tracker ETF (BATS:SJIM) will remain open and may benefit from the closure of LJIM.
With the closure of LJIM, investors may shift their focus to SJIM, potentially leading to an increase in its price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Tuttle Capital, the creator of the Inverse Cathie Wood ETF (NASDAQ:SARK), has more plans for the future.
While the news does not directly impact SARK, future plans from Tuttle Capital could potentially affect the ETF.
CONFIDENCE 60
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
The Long Cramer Tracker ETF (BATS:LJIM) is set to shut down and be liquidated.
The decision to shut down LJIM will likely lead to a decrease in its price as investors sell off their holdings. The liquidation of the fund will also result in a return of capital to shareholders.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100