The Tell: ETF focused on Jim Cramer stock picks surged in June, kicks off July with slight gains

The Long Cramer Tracker ETF, an actively managed fund that seeks to invest based on stock recommendations from CNBC’s Jim Cramer, surged in June, far exceeding the performance of the Nasdaq-100 and the S&P 500.

Shares of the ETF
LJIM,
launched by Tuttle Capital Management in early March, jumped 10.5% last month, according to FactSet data. That surpassed the 6.2% gain posted by the Invesco QQQ Trust Series I
QQQ,
which tracks the technology-heavy Nasdaq-100 index, and 6.1% rise posted by the SPDR S&P 500 ETF Trust
SPY.

Cramer is the host of CNBC’s “Mad Money” show.

The Long Cramer Tracker ETF has benefited in part from the hype around artificial intelligence as well as “fear of missing out” in the rally seen in U.S. stocks, said Matthew Tuttle, chief executive officer and chief investment officer of Tuttle Capital Management, by phone Monday. 

The Tell: New ETFs let investors bet on or against Jim Cramer and his stock picks (March 23)

As of June 30, the fund’s holdings included Schrodinger Inc.
SDGR,
Tesla Inc., Ford Motor Co.
F,
On Holding AG
ONON,
Adobe Inc.
ADBE
and Ulta Beauty Inc.
ULTA
and Lennar Corp.
LEN,
all of which had big gains last month. The ETF’s positions also included stocks such as CarMax Inc.
KMX,
Apple Inc.
AAPL,
Nvidia Corp.
NVDA
and Amazon.com Inc.
AMZN,
according to data on the fund’s website.

“Personally, I own LJIM right now,” said Tuttle, referring to the ETF’s ticker. “I don’t want to miss out” on this move higher, he said, but added that “at some point it will peter out” and prompt him to switch to the Inverse Cramer Tracker ETF
SJIM.

Nvidia’s guidance delivered in late May at the time of the chip maker’s latest quarterly earnings results stirred strong interest in stocks related to AI as well as growth stocks more broadly, according to Tuttle.  

Some of the biggest gains in the Long Cramer Tracker ETF came from companies such as Schrodinger, a software business for drug discovery, which skyrocketed around 49% in June, according to FactSet data. Tesla soared about 28% last month, while Ford surged around 26%.

Read: ‘A massive delivery beat’: Tesla tops second-quarter estimate with delivery of 466,000 vehicles, and stock surges in premarket trades

The Long Cramer Tracker ETF was up slightly around midday Monday, based on delayed trading data. The Inverse Cramer Tracker ETF, designed to provide roughly the opposite of the return of the investments recommended by the TV personality, dipped slightly in Monday trading.

The U.S. stock market finished modestly higher Monday, in an early 1 p.m. Eastern Time close ahead of the July 4 holiday. The Dow Jones Industrial Average
DJIA
finished up less than 0.1%, while the S&P 500
SPX
edged up 0.1% and the Nasdaq Composite
COMP
rose 0.2%, according to FactSet data.

Read: Recession canceled? U.S. stock market ‘pretty frothy’ after S&P 500’s strongest first half since 2019.

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