The company behind pure-play ETFs that cover sectors such as cannabis stocks, the metaverse, sports betting and meme stocks is back with a new fund that covers a popular investment strategy.
What Happened: Roundhill Investments launched the Roundhill S&P Dividend Monarchs ETF (NYSE:KNGS) on Thursday.
The launch followed the company's recent ETF that targeted the artificial intelligence sector.
"The Roundhill S&P Dividend Monarchs ETF is the first-ever U.S. listed ETF to track the performance of Dividend Monarchs, an elite group of U.S. blue chip companies that have grown their dividends for 50+ consecutive years," the company said.
The ETF will pay distributions on a quarterly basis, with payout dates in December, March, June and September listed on the website. The S&P Dividend Monarchs Index yields 3.51% as of October 2023.
"These companies, having rewarded shareholders with rising dividends for over half a century, exemplify financial fortitude and long-term vision," Roundhill Chief Strategy Officer Dave Mazza said. "The KNGS ETF offers investors the opportunity to tap into this elite group, providing both the potential for robust yield and the premium quality associated with enduring blue-chip names."
Related Link: Exclusive: Roundhill Launches Big Bank ETF With 6 Holdings, Highlights Diversified Deposits, Stronger ...Full story available on Benzinga.com
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