First Trust is seeking to roll out an exchange-traded fund (ETF) focused on cloud computing, Index Universe reports. The First Trust ISE Cloud Computing Index Fund will be slated on the Nasdaq.
The new offering will be benchmarked against the ISE Cloud Computing Index. The fund, which includes companies actively involved in the cloud computing market, will invest about 90% of its net assets in common stocks and depositary receipts included in the index, adds ETF Daily News.
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