That's pretty easy to check out...
From options.nasdaq-amex.com :
Description of Index
The Biotechnology Index is designed to measure the performance of a
cross section of companies in the biotechnology industry that are
primarily involved in the use of biological processes to develop products or provide services.
Equal-Dollar Weighting
The Index is equal-dollar weighted, designed to ensure that each of its component securities is represented in approximate equal dollar value. Equal-dollar weighting was established by designating the number of shares of each component security that represented approximately $10,000 in market value, based on closing prices on Oct. 18, 1991 (e.g., a stock that closed at $20 per share would be represented in the Index by 500 shares for a total market value of $10,000). The aggregate value of the stocks was reduced by a divisor (initially 750.1506) to establish an Index benchmark value of 200.00.
To ensure that each component stock continues to represent
approximate equal market value, adjustments are made quarterly after
the close of trading on the third Friday of January, April, July and
October.
Index Components
Advanced Tissue Sciences Inc. (ATIS)
Genzyme Corporation (GENZ)
Amgen Inc. (AMGN)
Gilead Sciences Inc. (GILD)
Bio-Technology General Corp.(BTGC)
Immune Response Corporation(IMNR)
Biogen, Inc. (BGEN)
Immunex Corporation (IMNX)
Centocor Inc. (CNTO)
Medimmune Inc.(MEDI)
Cephalon, Inc. (CEPH)
Organogenesis Inc. (ORG)
Chiron Corporation (CHIR)
Protein Design Labs,Inc. (PDLI)
COR Therapeutics,Inc. (CORR)
Note that the index is dollar weighted, so the size
of the larger, profitable companies doesn't necessarily
overweight them with respect to the smaller ones. (It depends
entirely on share value.)
BTW, I'm long lgnd... |
