VanEck Associates Corp will on Thursday launch an exchange-traded fund to track the 75 most-favorably mentioned entities on the internet, according to Bloomberg. The VanEck Vectors Social Sentiment ETF, under ticker BUZZ, tracks the same index as a fund that closed in 2019.
VanEck ETF will scour online sources such as social media, news articles, and blogs for equity-specific messages and posts.
The ETF follows the BUZZ NextGen AI US Sentiment Leaders Index, whose criterion for inclusion of stock includes a minimum market capitalization of $5 billion.
The ETF also includes breadth and diversity of conversation of a share, screened for over 12 months as inclusion criteria.
Dave Portnoy, the founder of Barstool Sports, promoted the ETF in a Twitter video on Tuesday.
A similar ETF tracking the same index launched in 2016, the BUZZ US Sentiment Leaders ETF, under ticker BUZ, closed in 2019 with about $8.8 million in assets.
Buzzing Index tracked by new ETF has outperformed S&P 500 since April 2020
