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Todd Walker
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Todd Walker is the Executive Director and Chief Strategist at HedgeTracker, where he is responsible for overseeing research, analytics and business development. He has particular expertise in investments that are popular among elite hedge fund managers, shareholder activists and... More
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  • Jefferies launches Wildcatters Energy E&P Equity ETF 0 comments
    Feb 3, 2010 7:24 PM | about stocks: LUK, WCAT, FST, EAC, ATLS, CRBQ, CRBA, CRBI

    Investment bank Jefferies & Company (NYSE: JEF) has launched its new upstream Oil and Gas focused Wildcatters Energy Exploration & Production Equity ETF on the NYSE Arca under the ticker WCAT. The exchange traded fund, which started trading on January 20th, invests in small to mid cap exploration and production companies and tracks the Thomson Reuters/ Jefferies CRB Wildcatters Energy E&P Equity Index (CRB WCAT Index), which was launched in September of 2009. In a press release, Jefferies Asset Management President Adam De Chiara highlighted the importance of the natural gas sector in the growing importance of American energy independence.

    WCAT’s three largest holdings are North American E&P companies Forest Oil Corp (NYSE:FST), Encore Acquisition Co (NYSE:EAC), and Atlas Energy Inc. (NASDAQ:ATLS) at 5.56%, 5.34%, and 4.75% respectively.

    With the launch of the WCAT ETF, there are now four ETFs based on the Thomson Reuters / Jefferies CRB brand of indices trading on the NYSE Arca. The others include the Jefferies | TR/J CRB Global Commodity Equity Index Fund (NYSEARCA:CRBQ), the Jefferies | TR/J CRB Global Agriculture Equity Index Fund (NASDAQ:CRBA) and the Jefferies | TR/J CRB Global Industrial Metals Equity Index Fund (CRBI). The CRBQ ETF is by far the largest with assets under management (AUM) of approximately $70mm. The other three funds currently have less than $5mm in AUM each.

    Disclosure: No positions

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