Direxion Launches Nanotechnology ETF (TYNE)

Direxion Launches Nanotechnology ETF (TYNE)

Direxion announced the launch of the The Direxion Nanotechnology ETF TYNE invests in companies believed to be at the forefront of nanotechnology, spanning the traditional sectors of consumer discretionary, health care, industrials, information technology and materials.

“Investors continue to seek exposure to disruptive industries, but one important area they may not yet fully appreciate is nanotechnology,” said David Mazza, Managing Director, Head of Product at Direxion. “Nanotech is used today in awide variety of businesses, ranging from agriculture, to biotech, to defense, to energy and semiconductors. With this innovation, materials can be made stronger, lighter, more durable and more reactive, helping to reduce costs and increase producivity.”

The TYNE ETF seeks investment results, before fees and expenses, of the S&P Kensho Extended Nanotechnology Index. The S&P Kensho Extended Nanotechnology Index tracks the performance of U.S.-listed companies involved in the creation and/or manipulation of matter at the molecular (or smaller) level, by providing one or more of the following four types of products or services: fabrication and manufacturing processes, measurement and simulation, materials, and delivery systems.

Investors seeking to gain exposure to nanotech stocks, and the nanotech sector, can access U.S.-listed nanotech companies such as Moderna, Inc. (MRNA), Thermo Fisher Scientific (TMO), Nano Dimension Ltd. ADR (NNDM), BionTech SE (BNTX), Beam Therapeutics Inc. (BEAM) and others through this nanotech ETF ($TYNE). For additional nanotech stocks, see the table below.

As of November 12, 2021, the 29 constituents had a median total market capitalization of $4 billion, total market capitalizations ranging from $98 million to $250 billion, and were concentrated in the healthcare and information technology sectors.

Read the original article on Direxion.