ROBO Global's new healthcare ETF to make NYSE debut
ROBO Global, the company behind the first ETF to track robotics and automation, has a new healthcare ETF making its debut Tuesday on the NYSE.
The ROBO Global Healthcare Technology & Innovation ETF (NYSE:HTEC) consists of 85 constituent companies in nine medical subsectors. The index will rebalance quarterly and uses a modified factor weighting scheme, meaning certain components affect the index’s value more than others
READ: ROBO Global finds the AI technologies giving HBO’s ‘Westworld’ so much whizbang are not all fiction
The Dallas-based company partnered with Exchange Traded Concepts to create the fund. ETC also helped launch the ROBO Global Robotics & Automation Index ETF (NYSEArca:ROBO) in 2013.
“By and large, the healthcare industry appears to be primed for massive market growth thanks to the implementation of advanced technologies like robotics and AI,” CEO Travis Briggs said. “The healthcare AI market is expected to grow at a compound annual growth rate between 47-50% by 2025, a value of $36 billion.”
Contact Andrew Kessel at [email protected]
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Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/222786/robo-global-s-new-healthcare-etf-to-make-nyse-debut-222786.html
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