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Ook Advisors to launch Texas large companies ETF

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Ook Advisors is launching the Texas large companies exchange-traded fund, which invests in a portfolio of securities that represents a benchmark index of large cap, publicly traded, Tex

Ook Advisors is launching the Texas large companies exchange-traded fund, which invests in a portfolio of securities that represents a benchmark index of large cap, publicly traded, Texas-based companies.

It follows receipt from the US Securities and Exchange Commission of a notice of exemptive relief, which signals that an order is likely to be issued on 17 September to allow trading of any funds under Ook Advisors.

The fund will trade on the NYSE Arca with the proposed stock symbol TXF. Subsequent fund plans include organising Texas mid and small cap ETFs.

Ook Advisors will also launch Ook, an Oklahoma ETF, at the same time TXF begins trading.

‘Both Texas and Oklahoma are known as business-friendly states with strong public companies,’ says Keith Geary, chairman of Ook Advisors. ‘I believe both states have weathered the recent national economic storms in an enviable fashion and are poised to move forward.’

TXF is based on the Spade Texas Index, a modified market capitalization weighted index that seeks to measure the performance of large cap publicly traded companies who have significant operation in Texas. Ook is based on the Spade Oklahoma Index, focusing on Oklahoma’s publicly traded companies.

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