Are you a fan of meme stocks? The MEME ETF will be launched today!
By Julianna
An ETF seizing on the rise of the retail trader is about to launch -- $ROUNDHILL MEME ETF(MEME.US$.
An ETF seizing on the rise of the retail trader is about to launch -- $ROUNDHILL MEME ETF(MEME.US$.
Roundhill Investments is pushing on with plans to list the $ROUNDHILL MEME ETF(MEME.US$ on this Wednesday, according to the firm's Chief Executive Officer Will Hershey.
The product is set to track the Solactive Roundhill Meme Stock Index -- which screens companies based on social-media activity and short interest to create a portfolio of 25 retail-friendly equities. MEME will charge a fee of 0.69%.
The Fund uses a "passive management" approach to seek to track the performance, before fees and expenses, of the Solactive Roundhill Meme Stock Index which, in turn, seeks to track the performance of "meme stocks."
Meme stocks are equity securities, including ADRs, of companies that exhibit a combination of elevated social media activity (i.e., the number of times a company or its ticker is mentioned on specific social media platforms) and high short interest (i.e., the number of an issuer's shares that have been sold short but which have not yet been covered or closed out), both of which are indicators of market sentiment.
--- Investment strategies of MEME
Meme stocks are equity securities, including ADRs, of companies that exhibit a combination of elevated social media activity (i.e., the number of times a company or its ticker is mentioned on specific social media platforms) and high short interest (i.e., the number of an issuer's shares that have been sold short but which have not yet been covered or closed out), both of which are indicators of market sentiment.
--- Investment strategies of MEME
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Roundhill's ETF is the latest attempt in the $7 trillion U.S. ETF arena to tap into this year's meme-stock mania. The $VANECK VECTORS SOCIAL SENTIMENT ETF(BUZZ.US$ quickly gathered assets of about $500 million after launching in March. However it struggled to maintain momentum and is down roughly 0.4% since then, with assets falling to around $160 million.
BUZZ rebalances monthly -- potentially a long time in message-board investing cycles. MEME will rebalance every two weeks and that should help set it apart, Hershey said. And unlike BUZZ, the ETF isn't limited to large-cap stocks.
It really is a phenomenon that's not being quantified with any products that are out there and until now, there was no way for people to put on that trade.”
--- Hershey said.
--- Hershey said.
Soure: Roundhill Investments, Bloomberg
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jwl8338 : Like etf will put this on my list.
ur wifes boyfriend : no this not the meme stocks
Dartist : wow
The CBI Investor : nah fk this buy this and u loseeverything
macoy18 : Lets see how it goes..
Koolgal : This should be popular with Meme investors!
lingnh : k
MuscMoo : Crapola! This fund is the result of a text bot scanning public forums. The only thing they got right was AMC and GME
rockindawg : Two weeks is well beyond the life cycle of a good meme.
Rashnoo : MOK
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