Invesco PowerShares Capital Management LLC, a leading provider of exchange-traded funds (ETFs), announced today that the PowerShares NextQ Portfolio (PNXQ) has changed its name to the PowerShares NQX Portfolio. The PowerShares NQX Portfolio will continue to be offered on the Nasdaq Stock Market under the existing ticker symbol (PNXQ). The investment objectives and fee structure will remain unchanged.
Known as "the PNXQ" to many market participants, "this name change highlights the ticker symbol identification and will allow for synergies in positioning the fund as a complement to the PowerShares QQQ (ticker: QQQQ), which is based on the Nasdaq-100 Index," said Bruce Bond, President and CEO of Invesco PowerShares Capital Management LLC.
The PowerShares NASDAQ NextQ Portfolio (PNXQ), launched in April 2008 on the Nasdaq Stock Market, is based on the NASDAQ Q-50 Index(SM). The Index is designed to track the performance of the 50 securities that are next in line to replace the securities currently included in the NASDAQ-100 Index®. The index reflects companies across major, non-financial industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology, and is adjusted quarterly.
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