June 29, 2008 at 1:00 am by Tom Lydon
SPADE Indexes has published the SPADE Oklahoma Index, which will serve as the basis of the upcoming Oklahoma exchange traded fund (ETF).
The index is designed to track companies that have corporate headquarters within the state of Oklahoma, and OOK Advisors already have an ETF in registration to track it. OOK is a full service brokerage firm based in Oklahoma City, and is the parent corporation to Capital West Securities.
The modified market-capitalization weighted index contains more than 30 companies that meet a range of criteria. The market-cap must be greater than $100 million, the share price must average more than $5 per day, and liquidity must be sufficient.
Many of the index’s constituents are in the energy field, or have located to Oklahoma because of its reputation as a business-friendly state with low tax rates. Through the end of May, the index had a year-to-date return of 27.6%, and has outperformed the S&P 500 annually since 2000 by an average of 21%.
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