Esposito Securities is celebrating the recent successful launch of the Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (BATS: KNG), for which Esposito provided initial seed capital.
“We greatly appreciate having worked on the successful launch of the KNG ETF, and we congratulate the team at CBOE VEST.” said Mark Esposito, CEO of Esposito Securities. “We are excited about the opportunity to work with them over the long term.”
KNG Launches with Esposito Seed
Esposito is a leading provider of ETF seed capital, and other key services to both the asset management industry and institutional investors. The team at Esposito has played a major role in helping its ETF sponsor clients prosper during the recent, unprecedented growth in the ETF industry.
Based on the performance of the S&P 500 Dividend Aristocrats Index, plus an options writing component, KNG launched on March 27, 2018, and traded 83,991 shares on its first day. Since going live, the fund has continued to see strong volume, averaging more than 44,000 shares traded per day.
Throughout its 10-year history in ETFs, Esposito has assisted funds in seeding, the creation and redemption of ETF shares, and executing trades in the underlying securities. Esposito offers custom and standard basket trading for ETFs as well as seed capital, rebalance work-up and assistance, and superior execution with the option of Post Trade and Best Execution analytical reporting for all funds. Esposito also trades all listed equity and index options.
Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF
According to Yahoo Finance, “The new Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF tries to reflect the performance of the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series, a rules-based buy-write index designed with the primary goal of generating income from stock dividends and option premiums that is approximately 3% over the annual dividend yield of the S&P 500 Index and a secondary goal of generating price returns that are proportional to the price returns of the S&P 500 Index, according to a prospectus sheet.”