Stork and Reaper for July 30, 2012
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Monday, July 30, 2012

Stork and Reaper for July 30, 2012

The Stork delivered a couple of new funds.

Today, Hennessy Funds [profile] filed for their Select Series of Funds, which is a reorganization of their Predecessor Series of Funds. The Predecessor Series of Funds provided the framework for the new series, which is tailored in anticipation for shareholders. The Select Series seeks capital appreciation and encompasses seven different funds. The PMs of the Select Series have been carried over from their respective fund in Predecessor Series. [SEC Filing]

On July 25, RiverNorth [profile] filed for the RiverNorth Dynamic Buy-Write Fund. The fund employs a "buy-write" strategy," meaning that it buys the underlying security and then writes an option on the very security. The fund's aim is that of total return with lower volatility than the equity markets. The fund is managed by Eric Metz, who is the derivatives specialist at RiverNorth Capital. [SEC Filing]

Also on July 25, Huntington Asset Advisors launched its Equity Rotation Strategy ETF, reports Morningstar. This is their second actively managed ETF, the other being their ecologically focused Huntington EcoLogical Strategy ETF. Huntington first filed this fund with the SEC on July 3. [SEC Filing]

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