The SPAC and New Issue ETF (SPCX) Surpasses $25 million AUM
First Actively-Managed SPAC ETF Attains Milestone in Thirteen Trading Days
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NEW YORK, Jan. 6, 2021 /PRNewswire/ The SPAC and New Issue ETF (NYSE: SPCX) announced that it has eclipsed $25 million in assets under management (AUM) over the course of thirteen 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). We are extremely encouraged by investors interest in this new strategy, says Matthew Tuttle, Chief Executive Officer and Chief Investment Officer of Tuttle Tactical Management LLC ( TTM ), which serves as the Advisor to SPCX. The fund launched on December 16, 2020, 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 ha
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What Happened: The
SPAC and New Issue ETF (NYSE:SPCX), courtesy of Tuttle Tactical Management, joins the SPAC ETF party, following a competitor that came to market in late September and is finding quick success.
One of the obvious differences between the rival blank-check ETFs is that the Tuttle offering is actively managed, an investment style that could be advantageous in the fast-growing SPAC space.
“As there is limited information on publicly-traded SPACs, selecting the right SPAC in which to invest can seem like a daunting task,” Tuttle CEO Matthew Tuttle said in a statement.
Why It s Important: With SPCX, Tuttle is looking to carve out a niche in a hot asset class where the rigidity of index-based strategies can turn off aggressive investors yearning for more amid blank-check mania.
On Wednesday, Tuttle Tactical Management (TTM), an experienced industry leader in Trend Aggregation, launched the
SPAC and New Issue ETF (NYSE: SPCX), which is now available for trading on the NYSE. SPCX is the first actively-managed ETF that gives investors direct exposure to the disruptive capital markets theme of Special Purpose Acquisition Companies (SPACs).
“The SPAC market has traditionally been hard to access for all but a small group of institutional investors,” says Matthew Tuttle, Chief Executive Officer and Chief Investment Officer of TTM, which serves as the Advisor to SPCX.
He continues, “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.”
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