After recently ending his hedge fund, legendary oilman T. Boon Pickens is becoming an exchange-traded fund, according to a report in The Wall Street Journal. The Pickens Oil Response ETF began trading under the ticker symbol BOON and it is tailored as a wager on U.S. energy abundance, according to the WSJ report.
BOON will track the NYSE Pickens Oil Response Index. Officials with New York Stock Exchange owner Intercontinental Exchange told the WSJ it is the first time NYSE has branded a stock index with an individual.
According to the report, Pickens’ ETF is “split between companies involved in energy production and those, like manufacturers, that use a lot of it.”
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