First Trust Advisors LP, a registered investment adviser in Lisle, Ill., introduced two exchange-traded funds on the American Stock Exchange Friday.
First Trust Amex Biotechnology Index Fund and First Trust Dow Jones Internet Index Fund began trading on the exchange as the Illinois company's fourth and fifth exchange-traded funds to be listed there.
The biotechnology portfolio tracks the Amex Biotechnology Index, an equal-dollar-weighted vehicle designed to measure the performance of a cross-section of companies primarily involved in the use of biological processes to develop products or provide services. The index is rebalanced quarterly. The Internet portfolio tracks the price and yield of the Dow Jones Internet Index, which is designed to include only companies whose primary focus is Internet-related. The index is reviewed each quarter.
First Trust said it had $25 billion under management at May 31.
