Long Jim Cramer ETF Closes After $1.3M in Inflows

The fund was launched by Tuttle Capital Management in March.

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Finance Reporter
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Reviewed by: Lisa Barr
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Edited by: Sean Allocca

An ETF that tracks CNBC television host Jim Cramer’s stock picks is shuttering after bringing in $1.3 million in assets since its launch in March. 

The Long Cramer Tracker ETF (LJIM), which has gained about 3.7% over its lifetime, will halt trading Sept. 11 and liquidate Sept. 21, according to a press release. Launched by Tuttle Capital Management, the fund buys stocks that the television personality and former hedge fund manager recommends on his Mad Money show.  

CEO Matthew Tuttle launched the ETF along with the Inverse Cramer Tracker ETF (SJIM), which shorts Cramer’s picks and is going to remain open.  

Tuttle said in an interview that he started both funds in March to prove a point about a perceived lack of accountability that Cramer and other stock picking pundits take for poor bets. Tuttle is personally invested in SJIM, which bets against Cramer, and he primarily created LJIM to “engage in a dialogue,” he said.  

“To me, the intermediate and long-term play is to short Jim Cramer’s picks,” Tuttle said.  

After Cramer and CNBC largely ignored the funds once they launched, he decided to shutter LJIM: “We decided it just doesn’t make sense to keep the long side open. I was trying to be nice. If they’re not interested in a dialogue, I’m not going to keep it open.”  

Jim Cramer’s ‘Lucky’ Bets 

While LJIM has outperformed SJIM this summer, Tuttle chalked it up to Cramer’s “lucky” bets on Nvidia and other high-flying tech stocks. While LJIM is up 3.6% over the past three months, SJIM is down 1.5% over the same period.  

Neither fund has picked up significant inflows; LJIM has seen $1.3 million in inflows while SJIM gained $3.5 million.  

Tuttle is also behind the AXS Short Innovation Daily ETF (SARK), which shorts Cathie Wood’s fund. He said he’s open to launching short bet funds against other popular pundits in the future.  

“If there’s some hypocrisy for me to call out, and I can create investment products around it that I personally would like to trade, then I’ll do it,” Tuttle noted.  

 

Contact Lucy Brewster at lucy.brewster at etf.com   

Lucy Brewster is a finance reporter at etf.com covering asset managers, emerging technologies, and regulation. She hosts etf.com webinars and appears on Exchange Traded Fridays, etf.com’s flagship podcast. She previously was a finance fellow at Fortune Magazine where she covered markets, investment strategy, and venture capital. She has also been a freelancer writer at the publication Mergers & Acquisitions and a research fellow at the Historic Hudson Valley. 

She graduated from Vassar College in 2022 with a degree in History and was an editor of The Miscellany News, the college's award winning student run newspaper. 

Lucy lives in Brooklyn, NY, and in her free time she loves to run and find new recipes to cook.