From Nasdaq, Inc.:

An ETF that allowed investors to bet against Jim Cramer is shutting down. Tuttle Capital launched two ETFs to track Cramer’s stock picks, named Long Cramer and Inverse Cramer. The Inverse Cramer ETF, SJIM, is shutting down and liquidating on Feb. 13, after the Long Cramer ETF was shuttered in September 2023.

The board of trustees determined liquidation was the best interest of shareholders, and proceeds will be distributed on Feb. 23. Tuttle Capital CEO Matthew Tuttle stated that retailers were more interested in volatile products and that retail investors didn’t fully materialize interest in the portfolio.

Cramer’s recommendations of the Magnificent 7 high-flying stocks impacted the success or failure of the ETFs. Tuttle referenced that if the fund was invested based on Cramer’s stock picks, it would be down 75%, demonstrating that timing is crucial to the success or failure of an ETF.

Tuttle Capital is planning to continue writing the Cramer Tracker newsletter and mentioned the success of the T-REX product line. They are currently focusing on recent initiatives with over $200 million in assets under management. They have also recently launched the Tuttle Capital 2X Inverse Regional Banks ETF, which allows investors a leveraged inverse investment option to bet against the performance of regional banks.

Tuttle Capital may consider relaunching the Long Cramer and Inverse Cramer funds in the future. However, they noted the difficulties with Cramer recommending the Magnificent 7 stocks and their efforts with the T-REX product line.

Additionally, Tuttle Capital has filed for leveraged Bitcoin ETFs and launched leveraged and inverse ETFs for Tesla and NVIDIA. They have a new project that could be announced in April.



Read more: EXCLUSIVE: Inverse Cramer ETF Shuts Down — How The Magnificent 7 Stocks Factor In And ‘A Broken Clock Is Right Twice A Day’