OOK Advisors LLC has launched a new ETF that consists of companies based in the Sooner State of Oklahoma. The ETF, which will trade under the symbol OOK, is the first fund for OOK Advisors. A second ETF focusing exclusively on Texas companies is expected soon. The new ETF, which is the first to focus on an individual state, consists of 29 companies and has an expense ratio of 0.85%. Oklahoma, besides being the home state of OOK Advisors, LLC, is often considered one of the more business friendly states in the Union. With an economy based on energy but expanding in other sectors as well, Oklahoma has seen tremendous growth in recent years. Between 2000 and 2008, GDP grew by a whopping 63%, one of the highest rates in the United States. In addition, three Oklahoma-based firms made Fortune magazine’s 2008 list of the 25 fastest growing companies in the U.S. (and six made the Fortune 500).
The fund has heavy weightings towards the energy industry with over two thirds of the fund in energy related stocks. The remaining third is mostly comprised of utilities (13.7%) and financials (7.3%). OOK’s top holdings include oil and gas driller Helmerich Payne (7.8%) and natural gas and oil explorer Chesapeake Energy (7.6%).
The ETF also has a social impact as well, promising to donate at least 10% of its management fees towards Aaron’s Bridge, an organization that helps to facilitate access to more treatment options in Oklahoma and Texas for children with developmental disabilities. For more ETF news, be sure to sign up for our free ETF Newsletter.
Disclosure: No positions at time of writing.