Tulsa World: Oklahoma Fund debuts amid stock market rally

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Oklahoma Fund debuts amid stock market rally

By DON MECOY NewsOK.com
Published: 10/30/2009 4:21 AM
Last Modified: 10/30/2009 4:21 AM

The Oklahoma Fund, represented by the ticker symbol "OOK," launched Thursday amid a 200-point rally by the Dow Jones industrial average fueled by a report of surging U.S. economic growth in the third quarter.

Shares rose for all but one of the 29 Oklahoma companies included in the fund.

"I don't know how you get a better recipe for a day to launch," said Keith Geary, chairman of OOK Advisors in Oklahoma City.

Although OOK volume was light — 20,501 shares traded — Geary predicts the fund should top $100 million within a week and could grow beyond $500 million by year's end. Some large financial institutions have signed agreements as recently as Thursday that will provide greater awareness of the fund among brokers and other potential buyers, he said.

Each share of OOK represents a basket of stocks from Oklahoma-based companies, weighted so that the largest companies have the greatest representation. By DON MECOY NewsOK.com

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