Fund that used CNBC’s Cramer picks is closing

An exchange-traded fund that mimics CNBC “Mad Money” anchor Jim Cramer’s stock picks is shutting down after failing to attract investors, reports Ariel Zilber of The New York Post.

Zilber reports, “In the press release, Tuttle said the goal of launching both ETFs was to ‘facilitate a conversation’ with Cramer and his host network.

“‘Unfortunately, Mr. Cramer and CNBC have been unwilling to engage in dialogue and instead have chosen to ignore the funds, therefore there is no reason to keep the long side going,’ according to Tuttle.

“‘Going forward we will just focus on the short side.’

“The Post has sought comment from CNBC.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.