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Investors can put their money where their mouth is with first restaurant ETF

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ETF Managers Group, a private label services provider to the Exchange Traded Funds (ETF) industry, has launched the first ETF to focus exclusively on restaurants (NASDAQ: BITE). 

The companies in BITE represent over 50 of the world’s most recognisable and iconic brands operating a wide variety of restaurant formats including Quick Service (eg, Starbucks), Fast Casual (eg, Chipotle), Casual Dining (eg, Buffalo Wild Wings) and Fine Dining (eg, Ruth’s Chris).

Sam Masucci, Founder and CEO of ETF Managers Group, says: “We are proud to launch BITE, the first pure restaurant ETF to hit the market and the latest addition to the ETF Managers Group family of exchange traded funds. BITE gives investors the ability to invest in the iconic restaurant brands, which are engrained in U.S. food culture as we know it today.”

The ETF tracks The BITE Index, an equal-weighted index of all restaurants that are publicly traded in the United States with a market cap of USD200 million or greater and USD1 million of daily average turnover. It is rebalanced semi-annually in June and December and is currently comprised of 45 companies.

“The percentage of income that Americans spend on food outside the home has been steadily growing over the last 150 years,” says Kevin Carter, Founder and CEO of Big Tree Capital and the creator and owner of The BITE Index. He added, “The average American household spends over USD2,600 a year at restaurants. BITE gives investors the ability to literally ‘put their money where their mouth is,’ allowing them to invest in conjunction with their own spending habits.”

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