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Leverage Craze Brings New ETF Targeting the SPAC Market

July 19, 2022
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A new exchange-traded fund is looking to make leveraged bets on SPACs, as the craze of amped-up strategies sweeps the ETF industry, Bloomberg reports.

The RiverNorth Enhanced Pre-Merger SPAC ETF (ticker SPCZ) launched last week, investing in SPACs before they merge with their targets. There are at least eight other exchange-traded funds in the US focused on blank-check companies, but this new fund would be the first that uses leverage, according to RiverNorth Capital Management CEO Patrick Galley. Read more.

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