FYI: When the NYSE Pickens Oil Response ETF (BOON) launched in February 2018 it had what its sponsor thought was a novel approach to energy investing: track an index tied to oil prices and fill it with both producers and end users of oil. The intent was that the former should benefit when oil prices go up and the latter could potentially benefit when oil prices go down.
The fund failed to attract assets (just $2.9 million) and performed poorly (its share price is down 17.5% since its debut).
TriLine Index Solutions, the fund’s sponsor, announced today it has relaunched the product with a new investment objective, new index provider, new fund name and new ticker symbol. The refurbished product is now the Pickens Morningstar Renewable Energy Response ETF (RENW).
Regards,
Ted
https://www.fa-mag.com/news/t--boone-pickens-affiliated-etf-switches-from-oil-to-clean-energy-51117.html?print
