The SPAC and New Issue ETF (SPCX) Reaches $137 Million AUM
First and Only SPAC ETF to Break $100 Million Asset Barrier; SPCX Options Now Available
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NEW YORK, Feb. 4, 2021 /PRNewswire/ The SPAC and New Issue ETF (NYSE: SPCX) announced today that it is the first and only SPAC ETF to garner over $100 million in assets under management (AUM). As of the close of business on February 3, AUM stood at $137.3 million, having achieved the $100mm mark in just 27 trading days. SPCX is the first actively-managed ETF that gives investors direct exposure to the disruptive capital markets theme of Special Purpose Acquisition Companies (SPACs).
ETF FYI: Spac attack, cyber wars, and a journey to the STARs citywireusa.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from citywireusa.com Daily Mail and Mail on Sunday newspapers.
January 25, 2021
Special purpose acquisition company (SPACs) are still all the rage on Wall Street following a brisk 2020 of blank-check activity. Exchange traded funds issuers are tapping heavily into that trend, some via active management.
Mark Yusko’s Morgan Creek Capital Management and financial-technology company Exos Financial will roll out the
Morgan Creek-Exos SPAC Originated ETF (SPXZ) on Tuesday.
“Morgan Creek and Exos are the latest companies trying to make money from SPACs, which go public and then have up to two years to merge with a company. Upon completion of a deal, that company gets the SPAC’s place on a stock exchange, allowing it to access everyday investors,” reports Amrith Ramkumar for the
SPAC Rush Leads Active ETF to Go All In on Blank-Check Firms
Bloomberg 1/21/2021 Michael Bellusci
(Bloomberg) The world’s first actively managed exchange-traded fund that invests in blank-check companies is doubling down on the red-hot SPAC market at the expense of its other strategy, merger arbitrage.
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The Accelerate Arbitrage Fund was launched in April by Julian Klymochko, the founder and chief executive of Calgary-based Accelerate Financial Technologies. The firm invests in special purpose acquisition companies, or SPACs, before they’ve announced deals, and also incorporates merger arbitrage, which aims to capitalize on the spread between a target’s stock price and the offer price before a deal closes.
Citi Expands ETF Services with Support of First Actively Managed SPAC ETF businesswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesswire.com Daily Mail and Mail on Sunday newspapers.