Nasdaq QQQ Fund to Trade on Big Board
Associated Press
The Nasdaq Stock Market said Thursday that it will allow its popular Nasdaq 100 tracking stock to be traded on the New York Stock Exchange starting this month.
The stock, a so-called exchange traded fund, or ETF, is best known by its ticker symbol--QQQ. It represents a basket of Nasdaq’s 100 biggest nonfinancial stocks, including Microsoft and Intel.
The NYSE’s desire to trade the QQQ fund, along with funds that mimic the Standard & Poor’s 500 index and the Dow Jones industrial average, highlights the rising popularity of such ETFs with investors and traders.
The QQQ fund was designed by Nasdaq and began trading in March 1999 on the Nasdaq-owned American Stock Exchange.
