"Trump-linked Organization Champions Five Mutual Funds Centered on U.S. Equities"
In a significant move, Trump Media and Technology Group (TMG) has announced the development of a new suite of ETFs, aptly named "Truth Social Funds." These funds, sponsored by Yorkville America Equities, will list on the New York Stock Exchange, subject to approval from the Securities and Exchange Commission later this year.
The suite consists of five distinct funds: Truth Social American Icons ETF, Truth Social American Security & Defense ETF, Truth Social American Next Frontiers ETF, Truth Social American Energy Security ETF, and Truth Social American Red State REITs ETF. Each fund focuses on specific areas, including domestic icons, security and defense, next frontiers, energy, and real estate investment funds in red states.
The sponsorship for these ETFs will be carried out by Yorkville America Equities, which will act as the sponsor and registered investment adviser for the funds. Yorkville America is an affiliate of Yorkville America, a company known for its expertise in the financial industry.
Investors have shown a positive response towards these new ETFs. TMG's largest shareholder, the Donald J. Trump Revocable Trust, holds a 41% stake in the company. TMG is the corporate parent of Truth Social, a social media platform where President Donald Trump communicates with the public.
In addition to Truth Social, TMG also runs Truth+, a streaming platform focusing on family-friendly content. The company has stated that there is significant interest for these ETFs.
However, it's worth noting that shares of TMG have lost over 50% this year. The company is also reportedly considering tweaking the retirement age, although no official announcement has been made yet.
As the development of these ETFs progresses, investors and the financial community will be closely watching TMG's moves. The company's ticker, for those interested, is DJT.
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