Boone T. Pickens' Oil ETF

Discussion in 'ETFs' started by vanzandt, Feb 28, 2018.

  1. vanzandt


    Started trading today.

    T. Boone Pickens was many things during his decades-long career: wildcatter, corporate raider, cattle trader, investor.

    Now, he’s becoming an exchange-traded fund.

    The 89-year-old oilman recently hung it up at his hedge fund, but his investing philosophy-- basically going all in on the U.S. energy renaissance--has been packaged for the passive-investing era. The Pickens Oil Response ETF is scheduled to begin trading Wednesday. Its ticker symbol will be BOON and it is tailored as a wager on U.S. energy abundance.

    BOON will track the NYSE Pickens Oil Response Index, which was developed last year by some of Mr. Pickens' lieutenants at his Dallas investment firm BP Capital. Officials with New York Stock Exchange owner Intercontinental Exchange say that it is the first time NYSE has branded a stock index with an individual.

    Unlike energy funds that focus on individual segments of the oil and gas business, such as exploration or pipelines, exposure through Mr. Pickens’ ETF is split between companies involved in energy production and those, like manufacturers, that use a lot of it.

    EDIT: T. Boone Pickens. Not Boone T.
    murray t turtle likes this.
  2. Maverick74


    Good work Zany! :)
  3. vanzandt


    I posted this one just for you Mav. I really did. Now you can guide me and tell me when to get in and get out.
    Oh.... and even though our bets off... I owe ya steak on general purposes....because friggin HLF just broke $90. :D
  4. Maverick74


    Yup. Good ole HLF. It's all in the charts Zany. They never lie...usually. :)
    vanzandt likes this.