An ETF capturing the stock picks of CNBC Mad Money anchor Jim Cramer will shut following low investor uptake.
The Long Cramer Tracker ETF (LJIM) will delist from Cboe after its final day of trading on 11 September, which is also the last day the fund will accept creation units from authorised participants.
This comes after LJIM amassed just $1.3m assets under management (AUM) since launch last October.
The actively-managed ETF attempts to provide equally weighted exposure to stocks recommended by Cramer on TV or social media and carries a fee of 1.2%.
It launched alongside the Short Cramer Tracker ETF (SJIM), which has welcomed $3.2m assets over the same time period.
Matthew Tuttle, founder and CEO of Tuttle Capital Management, said: “We started LJIM in order to facilitate a conversation with Jim Cramer around his stock picks as the other side to SJIM.
“Unfortunately, Mr Cramer and CNBC have been unwilling to engage in dialogue and instead have chosen to ignore the funds, therefore there is no reason to keep the long side going.
“Going forward we will just focus on the short side,” Tuttle concluded.
Last year, ETF Stream revealed Tuttle would consider bringing its products to Europe via a white label partnership.
“It is a big world and the US is only part of it,” Tuttle told ETF Stream. “It is more expensive for an issuer to launch overseas so I would only bring something that is either already successful here or has some distinction that may make it very successful there.”
The firm has made a name for itself by joining the US trend of wrapping individual stock-picker convictions in long or inverse ETFs.
This includes ETFs that track the stock ownership filings of former Speaker of the House Nancy Pelosi, the aggregate investments of Republican and Democrat Congresspeople or betting against the picks of Ark Invest founder CEO and CIO Cathie Wood.
