First Trust Advisors today launched an Internet exchange-traded fund on the American Stock Exchange. It tracks the Dow Jones Internet Composite Index.

The index tracks 40 of the largest and most actively traded Internet firms in the U.S. and was established in 1999 as a benchmark to measure companies that generate 50% or more of their revenues from the Internet. To be eligible to be included in the index, a company must have a three-month average market capitalization of at last $100 million.

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