HEDGEYE LAUNCHES ETF FOCUSING ON INDEX INCLUSION CANDIDATES
- NEWS Desk Global
- 2 days ago
- 1 min read
Hedgeye Asset Management rolled out a new exchange-traded fund designed to profit from the forced buying on the part of index funds and asset managers who try to hew closely to index allocations whenever their providers revamp the composition of major U.S. market benchmarks like the Standard & Poor's 500 index.
The Hedgeye Index Adds ETF makes its debut only two weeks ahead of the much-anticipated initial public offering of shares in Elon Musk's SpaceX, a deal that could value the company at $1.75 trillion and that already is shaking up longstanding guidelines on which companies get into those major market indexes. In late March, shortly before SpaceX revealed that it intended to go public on Nasdaq, the exchange announced an overhaul of its own listing rules to ensure that newly public mega-cap IPOs do not face lengthy waiting periods before they can join its Nasdaq 100 index.
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