Oct. 30--EDMOND -- Trading began Thursday on the Oklahoma Exchange-Traded Fund, giving investors a new way to invest in Oklahoma-based companies. Shares of OOK opened at $29.40 on the New York Stock Exchange Arca, and closed at $29.71.

"We've created the first state-based equity ETF in the nation," said Keith Geary, chairman of OOK Advisors LLC, which launched the fund.

"This is a chamber of commerce moment for the state of Oklahoma," Geary said. He said he hopes the fund will improve Oklahoma's profile in the nation and serve to attract new businesses.

"A month from now, when the investing community becomes more aware of it," Geary said, "I believe we'll see that for every dollar Oklahomans have invested, there will be $9 from outside our state borders."

Geary said he first had the idea for the fund 22 months ago, and first filed with the Securities and Exchange Commission 20 months ago. "It's been kind of tough to go on all these months. I've learned patience is a virtue," he said. "It's nice to put the doubting Thomases behind us now."

Geary said he has been asked whether his firm will launch other state-based exchange traded funds. According to back tests, Geary stated, no other state can duplicate Oklahoma's returns. "We will roll out a Texas ETF in the near term, but the past performance doesn't match Oklahoma's," he said.

Holdings, which are subject to change, include 29 companies, such as BOK Financial Group, Bronco Drilling, Chesapeake Energy, Devon Energy, ONEOK, Sonic Corp. and The Williams Co. The fund will be re-balanced every quarter, Geary said. No one company can exceed 7 1/2 percent of total fund value, and new companies that fit in the index may be added.

"We are pleased by the inclusion of Bronco in the Oklahoma Exchange Traded Fund. This fund is a unique concept and gives investors the opportunity to invest in some of the great companies we have in Oklahoma," said Zac Graves, chief financial officer with Bronco Drilling Company Inc., of Edmond. "It also provides an interesting vehicle that allows Oklahomans to support companies that employ their family, friends and neighbors and keep our local economy strong."

At least 10 percent of the OOK management fees will go to support Aaron's Bridge, an Oklahoma nonprofit organization working to establish and provide more treatment options in Oklahoma and Texas for children with developmental disabilities, including autism spectrum disorder. Eventually, Geary said, he wants people to think of Aaron's Bridge as the treatment center for children with disabilities in the same way they think of M.D. Anderson Cancer Center as the treatment center for cancer.

Exchange-traded funds represent a basket of securities that is traded like a stock. Unlike traditional mutual funds, they can be bought and sold throughout the day.

The New York Stock Exchange Arca is a leading listing and trading platform for exchange-traded funds. For more information about OOK, visit www.ooketf.com.

ktoppins@edmondsun.com -- 341-2121, ext. 112

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