Merrill Lynch has introduced a new stock index designed to provide guidance specifically for technology investing. The Merrill Lynch 100 Technology Index is an equally weighted index of the 100 largest market caps in technology and is quoted by the American Stock Exchange under the symbol MLO. Key features of the ML 100 include diversified representation of the technology sector and well-defined index rules. The index can be used as a selection universe, a performance benchmark, to index assets, and as a basket for hedging or equitizing. The index offers exposure to all important technology sectors, including computer software and hardware, services, networking and semiconductors. It also includes a number of ADRs to reflect the global nature of the technology industry. On Friday the ML 100 closed at 223.71, down 1.02% on the day.
