Dallas-based Texas Capital Bancshares, the parent company of Texas Capital, has added two new offerings to its portfolio, the company announced on Thursday.
“We are strategically broadening our ETF offerings, granting global investors unparalleled access to the dynamic investment opportunities in the Lone Star State,” said Edward Rosenberg, head of ETF and funds management for Texas Capital and president of the Texas Capital Funds Trust, in a news release. “The momentum led by the Texas Capital Texas Equity Index ETF (TXS) serves as a strong foundation for additional products, and we are confident that the TXSS and OILT ETFs present unique opportunities for investors to gain exposure to the thriving Texas economy.”
ETFs are exchange-traded funds — securities bought or sold through a brokerage firm on a stock exchange.
The offerings are the Texas Capital Texas Small Cap Equity Index ETF on NASDAQ (TXSS) and the Texas Capital Texas Oil Index ETF on the New York Stock Exchange (OILT). The former will track the performance of the Texas Capital Texas Small Cap Equity Index to reflect the performance of stocks in small-capitalization companies with headquarters in Texas. Business sectors in the small cap equity index include industrials, energy, consumer discretionary, health care, and real estate.
The OILT ETF will track the performance of the Alerian Texas Weighted Oil and Gas Index, which provides exposure to companies that extract oil and gas in Texas. Companies in the index must be publicly traded and responsible for more than 0.1% of the annual state oil and gas production of Texas over the past decade, based on data published by the Texas Railroad Commission.
“Building on the success of TXS, we hope these new funds will be viewed as distinctive opportunities, inviting investors to explore investment in one of the world’s largest and fastest-growing economies,” said Daniel Hoverman, head of corporate and investment banking at Texas Capital.
The TXSS ETF focuses on the backbone of the Texas economy — small businesses — recognizing their “pivotal role” in the state’s economy. The OILT ETF emphasizes the resilience and productivity of the Texas energy sector, including companies operating in the Permian Basin, Barnett Shale, Eagle Ford Shale, Haynesville/Bossier Shale, and Granite Wash.
