The SPAC and New Issue ETF starts trading on the NYSE today under SPCX. It is the first actively-managed exchange traded fund that gives investors direct exposure to the disruptive capital markets theme of SPACs.
“The SPAC market has traditionally been hard to access for all but a small group of institutional investors,” said Matthew Tuttle, Chief Executive Officer and Chief Investment Officer of Tuttle Tactical Management, which serves as the advisor to SPCX. “As there is limited information on publicly-traded SPACs, selecting the right SPAC in which to invest can seem like a daunting task. SPCX offers investors a broad portfolio of SPACs within the familiar liquid and tax-efficient wrapper of an ETF.”
Through Dec. 8, there have been 217 SPAC IPOs this year, with gross proceeds exceeding $74 billion. That compares to 59 SPAC IPOs in 2019 representing $13.6 billion. Read more.
