Another closure has been announced. The BUZZ U.S. Sentiment Leaders ETF (BUZ) will halt creations on Feb. 28 and see its last day of trading on March 1.
BUZ launched in April 2016 and currently has less than $9 million in assets under management. The fund tracks a 75-stock index covering U.S. companies that are the subject of positive sentiment on social media and the internet. The index relies on artificial intelligence to gather the necessary data to gauge the public’s feelings toward eligible securities.
Closures have broken records for two years running: in 2017 and 2018. However, last year’s 152 ETF shutdowns were boosted by Barclays’ decision to weed out its offering of iPath ETNs, which resulted in the closure of 50 of its products in April.
That said, there were four closures in January, including two popular ETNs that reached their maturity date, the iPath S&P 500 VIX Mid-Term Futures ETN (VXZ) and the iPath S&P 500 VIX Short-Term Futures ETN (VXX).
Contact Heather Bell at [email protected]