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.
