The “Oklahoma Fund”, an exchange traded fund comprised of a basket of the Oklahoma state stocks, is set to be released tomorrow on the NYSE under the symbol (OOK). It will be interesting to see how well an ETF based primarily on state pride will be digested by the investment community.
The OOK ETF will invest substantially all of its assets in the securities of companies that have their headquarters or principal place of business located in Oklahoma, or that generate a significant portion of their revenues in Oklahoma. OOK will be subject to greater volatility as a result of the events and conditions affecting Oklahoma, to a greater extent than an ETF that did not focus its investments in this manner. This ETF includes a charitable spin and will be investing a minimum of 10 percent of its management fees to “Aarons Bridge” helping facilitate access to more treatment options in Oklahoma to children with developmental disabilities.
The Oklahoma ETF (OOK), will track the SPADE Oklahoma Index. The Index is comprised of more than thirty companies (currently 29) with a market capitalization greater than $100 million, that maintain sufficient liquidity, and that are listed for trading on the New York Stock Exchange (“NYSE”) or quoted on the NASDAQ Global Market (“NASDAQ”).
Number of Constituents (most recent rebalance): 29
Market Capitalization Range: $120 million to $28.6 billion
Median Market Capitalization: $3.36 billion
Ten Largest Constituents (1 October 09)
Helmerich & Payne: 7.83%
Chesapeake Energy: 7.55%
Continental Resources: 7.46%
Oneok Partners: 7.44%
Magellan Midstream Partners: 7.43%
Williams Companies: 7.38%
Devon Energy: 7.33%
OGE Energy: 6.15%
BOK Financial Group: 6.04%
Breakdown by Industry Category
Energy: Drilling & Exploration: 26.61%
Energy: Pipeline: 22.25%
Energy: Oil & Gas: 18.71%
Energy: Coal: 4.94%
Consumer Goods: 0.28%
For the most recent fact sheet click: HERE