By: ETFdb
Oklahoma ETF, Texas ETF To Shut Down
Geary Advisors, the firm that last year pioneered state-specific ETFs, has announced that it will close down the Oklahoma Exchange-Traded Fund (OOK) and Texas Exchange-Traded Fund (TXF) by the end of the month. Both funds launched in late 2009, but despite impressive performances struggled to build up assets and trading volumes. OOK seeks to replicate the SPADE Oklahoma Index, a benchmark consisting of publicly-traded companies whose corporate headquarters are located in Oklahoma or who maintain significant operations within Oklahoma. Though OOK’s assets are spread across a number of sectors, the fund maintains a heavy tilt towards firms engaged in the transport of natural gas. That made it an intriguing option for playing that corner of the energy market, but assets were slow to accumulate [see How To Survive An ETF Liquidation]. Similarly, TXF is linked to a benchmark, the SPADE Texas Index, that consists of companies headquartered in Texas. Not [...] Click here to read the original article on Related Stories: Texas, Oklahoma ETFs Slash Expense Ratios Gearing Up For Texas And Oklahoma ETFs Oklahoma ETF Debuts: “Sooner” Than Texas Fund
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