The fall on its first trading day was not a deterrent for investors who huddled in the new online ETF, backed by Dave Portnoy.
The VanEck Vectors Social Sentiment exchange-traded fund (ticker BUZZ) fell along with most U.S. stocks in its debut on Thursday, but still managed to attract $ 280 million in tickets, according to data compiled by Bloomberg.
Although the funds’ settlement schedules make it difficult to compare tickets on the first day, the start of BUZZ probably ranks it among the 12 best launches ever recorded, according to Bloomberg Intelligence. Most other ETFs with massive inflows on the first day come from major issuers like BlackRock Inc. and are launched with pre-established financing.
Read More: Portnoy-backed ETF reaches third highest volume ever in a debut
BUZZ opened at $ 24.40 and closed down 3.6% at $ 23.52.
– With the help of Athanasios Psarofagis