The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A Florida Alt ETFs Shop Debuts a 2nd Covered Call ETF Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, June 6, 2024

A Florida Alt ETFs Shop Debuts a 2nd Covered Call ETF

Reported by Neil Anderson, Managing Editor

The folks at an alt ETFs shop in Florida are rolling out their second covered call ETF, eight months after their first.

Scott Edward Acheychek
REX Shares
Chief Operating Officer
On Tuesday, Scott Acheychek, chief operating officer of REX Shares [profile], unveiled the launch of the REX AI Equity Premium Income ETF (AIPI on the Nasdaq). The new, actively managed, non-diversified fund is a series of the ETF Opportunities Trust.

AIPI's inception date was Tuesday (June 4), and it comes with an expense ratio of 65 basis points. As of yesterday, the new ETF had more than $1.3 million in AUM.

REX Advisers, LLC serves as AIPI's investment advisor, and Vident Asset Management serves as subadvisor. The new fund's PM team includes two Vident executives: Austin Wen, portfolio manager; and Rafael Zayas, senior vice president and head of portfolio management and trading.

The new ETF is designed to offer investors regular income (from the options strategy) combined with exposure to artificial intelligence companies (by tracking an AI-focused stock index from BITA). The launch of AIPI comes after the REX Shares team launched their first covered call ETF, FEPI, last October. As of yesterday, that fund had grown to more than $239.6 million in AUM.

Acheychek puts the launch of AIPI in the context of "the AI revolution ... transforming every industry."

"We launched AIPI to help investors capitalize on these advancements owning the stocks while using options to provide a steady income stream," Acheychek states. "AIPI exemplifies REX Shares' commitment to innovating the covered call ETF landscape with specialized, options-based strategies that seek to address investor needs of potential NAV growth & income."

AIPI's other service providers include: Commonwealth Fund Services, Inc. as administrator; Citi Fund Services Ohio, Inc. as fund accountant; Citibank, N.A. as custodian and transfer agent; Cohen & Company Ltd. as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor; and Practus, LLP as counsel. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use