We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Airbus SE | EU:AIR | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.18 | 0.11% | 161.52 | 161.46 | 161.48 | 162.46 | 161.10 | 162.00 | 59,924 | 09:54:19 |
By Gerrard Cowan
Fifty years after Apollo 11 landed on the moon, a new exchange-traded fund is reaching for the stars.
Procure Space ETF blasted off in April, bearing the ticker UFO. The fund has gathered just over $8 million in assets under management as of the end of June.
UFO aims to invest at least 80% of its assets in companies that derive a majority of their revenue from space-related activities, says Andrew Chanin, chief executive of fund manager ProcureAM. This includes satellite manufacturers, where the space-related nature of the work is clear. However, it can also include companies in sectors like telecommunications or television, so long as they rely on space-related activities. The fund's top 10 holdings include names like satellite manufacturer Maxar Technologies and Iridium Communications, which oversees the global Iridium constellation of communications satellites. About 20% of the fund is invested in companies that are heavily involved in the space business without it being their main focus -- Airbus and Boeing, for instance.
The goal is to provide investors with access to a rapidly growing industry, says Mr. Chanin. He points to research from Morgan Stanley, published in November, that predicted the global space industry could generate $1.1 trillion or more in revenue by 2040, up from $350 billion today. Mr. Chanin says he is particularly excited by the opportunities presented by satellite delivery of broadband internet access.
UFO provides a convenient way to access an exciting theme, says Neena Mishra, director of ETF research at Zacks Investment Research. However, she notes that many of the high-profile companies in the growing industry -- such as Space Exploration Technologies Corp., Blue Origin and Virgin Galactic -- are privately owned, and so unavailable through the fund, though they do have some partnerships with public companies.
Mr. Cowan is a writer in Northern Ireland. He can be reached at reports@wsj.com.
(END) Dow Jones Newswires
July 08, 2019 22:17 ET (02:17 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
1 Year Airbus Chart |
1 Month Airbus Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions