Exchange Traded Concepts LLC have announced in conjunction with Eve Capital that the index for WEAR, the Wearable ETF (CBOE: WEAR) will soon be changed to the EQM Tactile AR/VR Virtual Technology Index.
ETF stands for Exchange Traded Fund, which is what Exchange Traded Concepts specialises in providing knowledge and business solutions for. The company says that the name change reflects a change in overall focus, but emphasises that it is not leaving wearable technology behind.
“We are committed to providing unique ETF’s that can enable investors to access new and exciting investment themes,” said J. Garrett Stevens, CEO of Exchange Traded Concepts. “This change to the AR/VR Virtual Technology Index continues that goal. Wearable technology is something that we still believe in. We just happen to believe that the augmented and virtual technology subset of wearables is the most exciting and could have a larger market impact going forward,” said Bryce Tillery, Managing Partner of Eve Capital. “We are also pleased to be working with EQM Indexes LLC, our index partner, and Tactile Analytics, the research firm covering this fast growing asset class.”
The new investment objective of the Tactile Analytics AR/VR Virtual Technologies ETF will be to seek to provide investment results that track the price return performance of EQM Tactile AR/VR Virtual Technology Index.
Companies included in the index can be found along the entire AR/VR supply chain. This includes electrical component manufacturers, software developers and content distribution companies, all of whom contribute part of what makes up a full VR or AR system.
According to the company, he index change provides an opportunity to advance the interests of WEAR as a company by changing the name and branding to reflect what the sponsor believes is the most exciting aspect of wearable technology.
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