MEME ETF seeks to tap retail investor sentiment
NEW YORK (Reuters) - Investors looking to bet on the "meme stock" phenomenon that has characterized the retail trading boom may soon have a new way to do so, with the Roundhill MEME exchange-traded fund, which tracks an index made up of stocks trending on social media.
The ETF, which requires regulatory approval, will 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," according to a filing on Thursday with the U.S. Securities and Exchange Commission.
Meme stocks include the shares and American depository receipts of companies that have a high level of mentions on social media, combined with high short interest, both of which indicate market sentiment, the filing said.
ETF providers have been jumping into the volatile meme stock frenzy, which peaked ...
Read More on Datafloq
The ETF, which requires regulatory approval, will 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," according to a filing on Thursday with the U.S. Securities and Exchange Commission.
Meme stocks include the shares and American depository receipts of companies that have a high level of mentions on social media, combined with high short interest, both of which indicate market sentiment, the filing said.
ETF providers have been jumping into the volatile meme stock frenzy, which peaked ...
Read More on Datafloq
Comments
Post a Comment