Merrill Lynch today introduced the "Merrill Lynch Nanotech Index," which, effective immediately, will be quoted intraday on the American Stock Exchange under the symbol NNZ.
The Merrill Lynch Nanotech Index, designed to help investors track the developing area, is an equally-weighted index of 25 nanotechnology companies headquartered in the United States or traded through American Depositary Receipts (ADR).
Each company included in the index has a significant percentage of its future profits tied to nanotechnology. In addition, each company's stock must trade largely based upon its nanotechnology business. Companies that have significant nanotechnology efforts, but are traded based primarily upon other business lines, are not included in the index. Types of companies involved in the index include: semiconductors, biotechnology, instrumentation, sensors, diagnostics, drug delivery, drug development, genomics, and materials.