Dallas-based Westwood Holdings Group Inc. aims to list its new ETF on the upcoming Texas Stock Exchange, focusing on energy and data sectors driven by AI advancement
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The Texas Stock Exchange appears to have found its first potential listing as it prepares to launch trading in the summer.
Dallas-based Westwood Holdings Group Inc. filed a prospectus with the U.S. Securities and Exchange Commission on March 31 to launch a new exchange-traded fund that lists TXSE as its primary listing venue. The fund, Salient Enhanced Power & Infrastructure ETF, still needs regulatory approval but would trade under the ticker “PWRX.”
The fund will primarily invest in companies of any size or market capitalization in the energy and data center sectors to benefit from increasing demand driven by artificial intelligence and on-shoring of manufacturing, electrification and the commercialization of next-generation energy technologies, according to the filing. Westwood is a money manager offering an assortment of investment products, including various ETF strategies focused on energy infrastructure.
ETFs are typically set up as a basket of assets like an index fund. However, an ETF trades more like a stock, with its value changing throughout the day. Typically, ETFs are required to disclose their portfolio holdings on a daily basis. In recent years, ETFs have boomed in popularity because of their accessibility, transparency, low costs and tax efficiency for investors.
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