The FANG group of tech stocks is crushing expectations this year, and a new tech-based exchange traded fund is looking to capitalize on the momentum.
AdvisorShares on Wednesday debuted its New Tech and Media ETF under the ticker FNG. The fund will initially track 28 "disruptive innovators," the company said.
While the four stocks have soared, Wall Street has been jittery about them, with analysts raising concerns about the valuations of large-cap technology bellwethers. Talk about a FANG bubble is growing louder, with all four stocks up 20 percent or more this year.