AI investment fund reaches top 3 highest ever trading volume

Investors have welcomed with open arms, an #algorithmic fund, which uses #artificialintelligence in its stock picks. The fund allocates between 75 of the most popular stocks among investors. In the first day of trading, $438 million worth of shares changed hands for #ETF VanEck Vector Social Sentiment (ticker: BUZZ). Analysts at #Bloomberg note that explosive #volumes like these, characterize the launches of funds offering investors access to new asset classes, like Bitcoin for example. In this case, the algorithm is designed to pick out “truly valuable” stocks, and not buy into overly trendy positions, like GME or AMC. At this time the largest holdings of the fund are split between; Ford Motor Co., Twitter Inc., and DraftKings Inc. Some analysts say that the third-highest volume ever, generated by this ETF debut, is likely due to several factors. Many overly excitable young #investors combined with the active #advertising of the fund by David Portnoy, somewhat of a celebrity in the financial industry media space, has surely had an overwhelming effect. We have seen overly “hyped” stocks this year, why should this not apply to funds. Only time will tell if these expectations were justified. Source: Bloomberg #trading #fintech #marketing #media #finance #etf #debute

https://www.linkedin.com/feed/update/urn:li:activity:6776213885230845952

Leave a comment

Your email address will not be published. Required fields are marked *

We are eager to share with you more details in our upcoming posts next week. Meanwhile, do not forget to subscribe to our blogposts newsletter here to have all our newest posts in your inbox the time they are out!

Quant Infinity Solutions AG is committed to protecting and respecting your privacy, and we’ll only use your personal information to administer your account and to provide the products and services you requested from us. From time to time, we would like to contact you about our products and services, as well as other content that may be of interest to you. If you consent to us contacting you for this purpose, please tick below to say how you would like us to contact you:

You can unsubscribe from these communications at any time. For more information on how to unsubscribe, our privacy practices, and how we are committed to protecting and respecting your privacy, please review our Privacy Policy.

By clicking submit below, you consent to allow Quant Infinity Solutions AG to store and process the personal information submitted above to provide you the content requested.