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The NASDAQ 100 index tracking stock (symbol:
QQQ) – also called “the cubes” or “qubes” - was being traded on
the AMEX – the American Stock Exchange. As of December 1 of
2004, it moved to the NASDAQ, where it trades under the new
symbol “QQQQ”.
The “cubes” are so popular they have been
called a “monster ETF” (ETF = Exchange Traded Fund). In fact,
with a daily trading volume of about 100 million shares, they
are the most heavily traded equity security in the U.S. today.
According to one source, one million investors (both retail and
institutional) trade the QQQ.
The NASDAQ exchange welcomes the “homecoming”
of the cubes, pointing out that all of the component stocks of
the NASDAQ 100 Index are already being traded there. The NASDAQ
sets the value at which the QQQ trade. Currently, it is
approximately 1/40th of the value of the NASDAQ 100 index.
QQQQ trade on the NASDAQ Exchange
(NASDAQ: QQQQ).
The Nasdaq 100 Shares (QQQQ), an index tracking stock - is the
first financial product created by the new Nasdaq-Amex Market Group.
Now for the first time, the stocks of the Nasdaq-100 Index are trading
as one equity, opening the door to innovative and exciting investment
opportunities.
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