20 companies added to index focused on social and environmental good
A global investing index that seeks to identify the best transparent companies is updating its holdings in 2022.
The index — called the Transparency Index — is adding 20 new companies to its list of 100 companies that exclude certain industries it deems harmful for people and the planet.
These include alcohol, chemicals, financial, pharmaceutical, confectionary, fossil-fuel transportation, gambling and metals and mineral, as well as oil and natural gases and tobacco.
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The index gives each company a weighting around 1%.
This index will be used by ARK Investment Management to create a brand new ETF, which is headed by Cathie Wood (CEO and chief investment officer). The ETF was called “The”. ARK Transparency ETFTrades under ticker CTRU and is the first passive investment product of the company.
This ETF traded at $18.41 a share Friday before dropping by slightly more than 1%. The flagship ARK Innovation ETF, however, suffered a 1% drop. dramatic selloffOn Thursday, this was partly due to the rising interest rate. On Friday, the fund traded around $85 per shares.
The Transparency Index now includes these companies Cboe Global MarketsThe Chicago Board Options Exchange is owned by. Sprout SocialThe provider of social media management software that is web-based, is.
This index identifies companies who value transparency and are open to discussing it with employees as well as customers. Paul Pagnato (chairman and founder of Transparency Invest), the company behind the Transparency Index, stated that there is no influence or pay-to-play.