OOK Advisors has released the Oklahoma ETF tracking an index of Oklahoma-based companies.
The fund, which is listed on NYSE Arca, is based on the Spade Oklahoma index, a market capitalisation benchmark measuring the performance of publicly traded companies that are headquartered or have substantial operations in Oklahoma.
The underlying index has 67.57% in energy, 13.58% in utilities, 7.53% in finance, and 4.94% in coal energy, with the remaining percentages in industrials, services, and consumer goods, as measured at the end of September.
OOK Advisors claims the fund is the first of its kind as a state-based ETF, allowing investors to gain exposure to several Oklahoma-based public companies at once.
The company highlights that the fund is subject to greater volatility due to the events and conditions affecting Oklahoma, as opposed to an ETF that did not focus all its investments in this manner.
Partner Insight: For Blackfinch, the arrival of its IHT portfolio services was a 'natural evolution' in the group's offering and points to an established track record of returning cash to investors.
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