NFE - ETFMG aims to launch the Breakwave Sea Decarbonization Tech ETF

ETFMG is preparing to launch the ETFMG Breakwave Sea Decarbonization Tech ETF, which will offer investors exposure to global companies that aim to operate in the eco friendly shipping and oceanic industries. According to a U.S. Securities and Exchange Commission filing, the ETF intends to invest in firms that develop technologies, manufacture equipment or provide services related to marine or ocean decarbonization. The passively managed fund aims to track the Marine Money Decarbonization Index, which is built up of 50 stocks with a minimum market capitalization of $100M. Stocks in that index include ABB Ltd. (NYSE:ABB), Bloom Energy Corp. (NYSE:BE), Great Lakes Dredge & Dock Corp. (NASDAQ:GLDD), New Fortress Energy (NASDAQ:NFE) and Methanex Corp. (NASDAQ:MEOH). The ETF will trade on the New York Stock Exchange under the ticker symbol "BSEA" and rebalance itself every quarter. It will come with a 0.75% expense ratio. Daily price action: ABB -2.47%, BE +3.11%, GLDD +0.07%, NFE -1.41% and MEOH +3.32%.

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ETFMG aims to launch the Breakwave Sea Decarbonization Tech ETF