The Colorado Springs-based Space Foundation is now tracking UFOs, at least in a stock index. The foundation certified a new stock index, with the symbol UFO, that includes 30 space-related companies that use or manufacture satellites or ground equipment to control satellites.
The S-Network Space Index began trading Thursday on the New York Stock Exchange and was launched by Procure AM LLC, a new company based in Levittown, Pa., that manages exchange-traded funds. The index was developed by S-Network Global Index Inc. of New York and Space Investment Services LLC of Princeton, N.J.
To qualify for the index, a company must generate 20 percent of its revenue or at least $500 million from space-related businesses. The index is weighted so 80 percent of its value is from companies that generate at least half of their revenue from space-related businesses. Colorado-based index members are Ball Corp. of Broomfield and Dish Network Corp. and EchoStar Corp., both of Englewood.