Reckoner Yield Enhanced AAA CLO Annual ETF (RAAY) Stock Price, Quote, News & History | Benzinga

To achieve its investment objective by investing all of its assets in Reckoner Yield Enhanced AAA CLO ETF (RAAA) in a master/feeder structure in which the Fund is the feeder fund and RAAA is the master fund. Reckoner Capital Management LLC, investment adviser to RAAA and the Fund (the Adviser), seeks to manage the Funds portfolio such that the Fund makes only one payment of any dividend or other income distributions to shareholders each year. The strategy has been designed for investors seeking to achieve exposure to RAAA, but who do not want to receive dividend or distribution payments (including income or capital gains distributions) more than once per year. There is no guarantee that the Fund will be able to minimize paying dividends and distributions. In implementing this strategy, the Fund may be entirely invested in cash, rather than RAAA, for certain temporary periods.