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An Oklahoma ETF?
October 29, 2009 5:33 am
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OOK Inc. has launched an exchange-traded fund that will invest solely in Oklahoma-based companies. The new fund (NYSEArca: OOK) is the first of its kind. OOK will track the SPADE Oklahoma Index, which comprises publicly traded Oklahoma-based companies with a minimum market capitalization of $100 million. The index has posted year-to-date gains as of Sept. 30 of 37.8 percent. Though weighting in the index is based on market capitalization, no company can account for more than 10 percent of the portfolio to meet asset diversification goals. Some 29 company names comprised the portfolio at launch.
OOK comes with annual expenses of 0.85 percent. The fund has OOK Advisors, LLC, for investment adviser. You can read the prospectus here.
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