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Hurricane Ian has barreled its means by way of the sunshine state of Florida inflicting residents of the realm to be on excessive alert. Alternate traded fund buyers are additionally on alert as they watch how strikes develop within the Procure Catastrophe Restoration Technique ETF (NASDAQ:FEMA).
FEMA, the newly launched ETF that got here to market again in June of 2022 goals to trace a portfolio of shares which are engaged within the recovering act from pure disasters, corresponding to hurricanes, wildfires, floods or earthquakes.
The fund has not had a lot luck within the markets because it was unveiled as its -17.9% since its inception, however Hurricane Ian gives the fund with a possibility to shine on what its aimed to offer.
The fund can also be hooked up with a 0.75% expense ratio and 63 holdings which are led by Fujitsu Restricted (OTCPK:FJTSF), ICF Worldwide (NASDAQ:ICFI), REV Group (REVG), Sulzer (OTCPK:SULZF), and Cummins (NYSE:CMI).
From a weighting perspective FJTSF is the highest holding as its weighted at 2.07%. Subsequent inline is ICFI, REVG, and SULZF as they’re weighted at 1.88%, 1.75%, and 1.75%, respectively. FEMA’s fifth largest stake belongs to CMI with a 1.73% weighted place.
Hurricane Ian has not solely ravished Florida, but it surely has now led to an enormous variety of airline flight cancellations on Thursday because the storm rolls by way of the state.
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