The SPAC and New Issue ETF (NYSE: SPCX) announced that it has eclipsed $25 million in assets under management over the course of 13 trading days. SPCX is the first actively-managed ETF that gives investors direct exposure to the disruptive capital markets theme of SPACs.
“We are extremely encouraged by investors’ interest in this new strategy,” says Matthew Tuttle, CEO and CIO of Tuttle Tactical Management, which serves as the advisor to SPCX. “The fund launched on Dec. 16 with just $2.5 million of AUM and 100,000 shares outstanding. As of today, AUM stands at $25.14 million with 975,000 shares outstanding. In addition, trading volumes have been robust with average daily volume eclipsing 141,000 shares since listing. As we had expected, there exists a strong appetite for an active pure-play approach to managing a diverse portfolio of SPACs within an ETF wrapper.” Read more.
