New ETF (NASDAQ:ROBO) focuses on robotics industry
UPDATE 11/12/13: NASDAQ’s 10-story tall sign was all about Robo-stox LLC, ROBO the ETF, and a Universal Robot with a Schunk hand ringing the NASDAQ closing bell. Quite a spectacle. The arm/hand combo was also used to draw the company logo in a neat video.
NASDAQ:ROBO is a new ETF (exchange traded fund) launched at a price of $25. First day volume was over 225,000 shares.
The new ETF uses a specially formulated index which attempts to reflect the global robotics industry. The index is comprised of 77 companies – 38% domestic; 62% international – in the rapidly developing global robotics and automation industry, with operations in over 15 different countries around the world and listings on multiple foreign and domestic exchanges.
The ROBO-STOX™ Global Robotics and Automation Index, by Robo-stox LLC, is the algorithm licensed to the ETF. Founders of Robo-stox LLC believe that their index empowers investors worldwide to capitalize on the accelerating growth in the robotics and automation sector.
Frank Tobe, editor and publisher of The Robot Report, is a co-founder of Robo-stox LLC. Read his story here: Robo-Stox: A dream come true.
Full details of how this new index came to be in IEEE/Spectrum Automaton article.
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