With AstraZeoneca now listed on the New York Stock Exchange as an ETF, investors can take advantage of its ETF-like trading capabilities.
This is a major change from its days as an unlisted pharmaceutical company, and a sign that Astra Zeneca has matured into a legitimate pharmaceutical company.
The ETF-style trading is based on a model that Astrazenech developed, according to an article on its website.
In this model, each Astra-Zeneca stock ETF will trade as a standalone trading fund, with no relationship to the rest of the company.
The ETFs will trade under the ticker symbol AZN, for Astra, and the tickers will be listed on their respective stocks’ websites.
Investors can purchase shares of Astra in a bid-ask spread of 2%, with a minimum daily volume of 0.001%.
Shares can also be traded in futures contracts.
AstraZeneca shares are trading as of Wednesday at $1,094.23, down $1.27 from Tuesday’s close of $1; the S&P 500 index has gained 1.7% this year.
The Nasdaq has gained 2.2%.
The company’s stock has gained nearly 7% since the start of the year, compared with a 7.6% gain for the S & P 500 index.
Its shares are now trading at a market capitalization of $2.2 billion, which is almost a fifth of the $4.9 billion in annual revenue the company has reported for fiscal 2017.
The company is working to raise $50 billion in additional financing, according the Nasdaq.