Roundhill Financial Inc. has announced that it will modify the underlying index of the Roundhill Sports'Betting'and iGaming ETF, an exchange-traded fund the investment adviser designed to track the stock performance of the sports betting and iGaming industries.
Effective at the close of trading Sept. 29, the fund (symbol BETZ) will begin tracking the Morningstar Sports Betting & iGaming Select Index, the companies explained in a statement. As with the current index, the new index is designed to provide targeted exposure to stocks in both industries. Morningstar Inc. created and will maintain the new fund.
Over the last several months, Roundhill has been working with Morningstar on the new index. Ultimately, Roundhill believes that Morningstar’s research capabilities, including a dedicated gaming sector analyst in Dan Wasiolek, will allow for the ETF to best track the online gaming sector, said Will Hershey, who serves as CEO of Roundhill Investments.
The new fund will begin trading on Oct. 2, tracking the new index. As of Sept. 18, the fund had about $105 million in assets under management (AUM).