The Long Cramer Tracker ETF (LJIM) will be closed and liquidated

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The Long Cramer Tracker ETF (LJIM), an exchange-traded fund that was set up to buy stocks recommended by CNBC personality Jim Cramer, will be closed and liquidated, according to Tuttle Capital Management, the provider of the ETF. The shares of LJIM will have their last day of trading on Cboe on September 11, and the fund will no longer accept creation units from authorized participants after that date.

The ETF was launched with the aim of facilitating a conversation with Jim Cramer around his stock picks, in contrast to the Short Cramer ETF (SJIM), which aims to achieve the inverse of Cramer’s recommendations by going short on stocks he recommends buying and going long on stocks he doesn’t like. However, Tuttle Capital Management stated that Jim Cramer and CNBC have been unwilling to engage in dialogue and have chosen to ignore the funds, leading to the decision to close the Long Cramer ETF.

ETF Newz Says:

The Inverse Cramer ETF, on the other hand, has seen some success, with a 13.1% increase in the month to date. The Long Cramer ETF had a surge in June and early July, reaching a high of $29.42 on July 19, but has since retreated, falling 12.1% in August.

Jim Cramer had previously expressed his openness to people betting against him when Tuttle Capital Management filed papers for the ETFs with the Securities and Exchange Commission in October of the previous year.

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