Two New Exchange Traded Funds Based on NASDAQ Indexes Are Under Development
27 Febbraio 2006 - 4:01PM
PR Newswire (US)
NEW YORK, Feb. 27 /PRNewswire-FirstCall/ -- The Nasdaq Stock
Market, Inc. today announced it has entered into an agreement with
First Trust Advisors L.P. to launch two new exchange traded funds
(ETFs), the NASDAQ-100 Equal Weighted Fund (NASDAQ:QQEW) and the
NASDAQ-100 Technology Fund (NASDAQ:QTEC), which will be based on
the NASDAQ-100 Equal Weighted Index(SM) (Symbol: NDXE) and the
NASDAQ-100 Technology Index(SM) (Symbol: NDXT), respectively. The
ETFs will be managed by First Trust Advisors L.P. and listed on
NASDAQ(R). The NASDAQ-100 Equal Weighted Fund and the NASDAQ-100
Technology Fund are designed to correspond to the price and yield
performance of the indexes upon which they are based. ETFs are
financial products that trade like shares of stock and can be
bought and sold throughout the trading day. NASDAQ Executive Vice
President John Jacobs stated, "We are pleased to partner with First
Trust, which is widely recognized as a leader in providing some of
the most innovative financial services in the marketplace. Our
collaboration with First Trust underscores NASDAQ's commitment to
provide investors with a variety of practical products that are
designed to help them reach their investment goals." The NASDAQ-100
Equal Weighted Index is the equal weighted version of the
NASDAQ-100 Index(R), which includes 100 of the largest
non-financial securities listed on The Nasdaq Stock Market(R) based
on market capitalization. The Index contains the same securities as
the NASDAQ-100 Index, but each of the securities is initially set
at a weight of 1.00% of the Index and is rebalanced quarterly. The
NASDAQ-100 Technology Index is an equal weighted index based on
technology companies in the NASDAQ-100 Index. The NASDAQ-100
Technology Index contains securities in the NASDAQ-100 Index that
are classified as technology according to the ICB Classification
System. Each of the securities is initially set at an equal weight
of the Index and is rebalanced quarterly. NASDAQ is the largest
U.S. electronic stock market. With more than 3,200 companies, it
lists more companies and, on average, trades more shares per day
than any other U.S. market. It is home to companies that are
leaders across all areas of business including technology, retail,
communications, financial services, transportation, media and
biotechnology. NASDAQ is the primary market for trading
NASDAQ-listed stocks. For more information about NASDAQ, visit the
NASDAQ Web site at http://www.nasdaq.com/ or the NASDAQ Newsroom at
http://www.nasdaq.com/newsroom/. NDAQG First Call Analyst: FCMN
Contact: DATASOURCE: NASDAQ CONTACT: Wayne Lee of NASDAQ,
+1-301-978-4875 Web site: http://www.nasdaq.com/
http://www.nasdaq.com/newsroom
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