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Underdog activist Engine No. 1 is launching an ETF after big Exxon win

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A view of the ExxonMobil Baton Rouge Refinery in Baton Rouge, Louisiana, May 15, 2021.

Kathleen Flynn | Reuters

Engine No. 1, the upstart activist firm that put three candidates on Exxon’s board of directors, is launching an exchange-traded fund in a bet that shareholder activism will take center stage in coming years.

The Engine No. 1 Transform 500 ETF will trade under the ticker VOTE, and has received $100 million in commitments, the company said Tuesday. The passive fund will invest in 500 of the largest U.S. companies and track the Morningstar U.S. Large Cap Select Index, with the aim of helping to “instigate positive change for employees, customers, communities, and the…



Source cnbc.com

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