- Thornburg Investment Management has launched the Thornburg Premium Income Builder ETF (NYSE: THOR), expanding its investment offerings.
- This new exchange-traded fund (ETF) aims to provide both income and long-term capital growth by investing in global dividend stocks and utilizing a flexible options strategy.
- With an expense ratio of 0.79%, the fund saw its shares priced at $25.00 on its first day, reflecting strong initial trading interest and reaching a trading volume of 112,384 shares.
Thornburg Investment Management, a global investment management firm managing $60 billion in assets, is expanding its offerings. The company recently launched the Thornburg Premium Income Builder ETF (NYSE: THOR), which now trades on the New York Stock Exchange. This new exchange-traded fund (ETF) aims to deliver both income and long-term capital growth for investors.
As highlighted by PR Newswire, Thornburg Premium Income Builder ETF achieves its goals by investing in global stocks that pay dividends. It combines this with a flexible options strategy. An options strategy involves using financial contracts to generate additional income from the stocks the fund already owns, which can help in various market conditions.
The fund is managed by industry veterans Brian McMahon and Matt Burdett. For investors, the cost of owning the fund, known as the expense ratio, is 79 basis points, or 0.79% annually. This launch is part of Thornburg’s growing ETF platform, which has accumulated over $750 million in assets in just 18 months.
On its first day, shares of Thornburg Premium Income Builder ETF are priced at $25.00, a daily increase of $0.12 or 0.48%. The stock’s price has moved between a low of $24.88 and a high of $25.03 during the day. The trading volume for the new ETF has reached 112,384 shares.
