OOK Advisors LLC will be launching two new ETFs in two weeks, reported the San Antonio Business Journal.

Keith Geary OOK Advisors CEO, chairman, president

The Oklahoma City-based investment adviser plans to launch the Oklahoma Index Fund at the same time that the Texas Index Fund (which invests in large cap companies) begins trading. After the SEC issues an order on August 17, OOK Advisers should begin trading for both new funds the next day.

Keith Geary, chairman, president and CEO of Geary Companies, Capital West and OOK Advisors, told the MFWire that OOK Advisers decided to launch a Texas large cap ETF and subsequent Texas mid- and small-cap ETFs in the future due to the large amount of publicly traded companies in the region. He estimates that there are over 400 publicly traded companies in the Lone Star state.

"The large cap [ETF] has 73 component companies included, and the mid- and small-cap funds will have a similar number," Geary said.

He added that OOK Advisers will only be launching one Oklahoma ETF as there are not nearly as many publicly traded companies in Oklahoma as in Texas.

Geary said that the decision to create ETFs stemmed from feedback concerning a yearly Christmas promotion held by the company that allows grandparents or parents to buy stocks for children as gifts. One investor had approached him to discuss whether there was an easier way to purchase stocks, and Geary responded that he would look into creating ETFs for his investors.

"It ended up being a great idea, so I started getting in touch with all the right players and started to put it together." 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE