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.
Showing posts with label exchange traded funds. Show all posts
Showing posts with label exchange traded funds. Show all posts
Friday, 10 October 2008
Tuesday, 2 September 2008
BGI Moves ETFs Exchanges
Barclays Global Investors (BGI), one of the world's largest institutional asset managers and Exchange Traded Funds (ETF) managers, today announced the transfer of the iShares Nasdaq Biotechnology Index Fund (ticker: IBB) from the American Stock Exchange to The NASDAQ Stock Market and the move of the iShares S&P 100 Index Fund (ticker: OEF) from the Chicago Board Options Exchange to the NYSE Arca listing and trading platform on September 23, 2008. Current shareholders are not required to take any actions as a result of these changes.
"The natural listing location of the iShares Nasdaq Biotechnology Index Fund is The NASDAQ and the transfer of the iShares S&P 100 Index Fund to the NYSE Arca is logical as well since it is joining the other iShares S&P Funds," said Michael Latham, CEO of U.S. iShares at Barclays Global Investors. "We appreciate The NASDAQ and the NYSE Arca's support of the ETF marketplace."
The iShares Funds are index funds that are bought and sold like common stocks on securities exchanges. The iShares Funds are attractive to many individual and institutional investors and financial intermediaries because of their relative low cost, tax efficiency and trading flexibility. Investors can purchase and sell shares through any brokerage firm, financial advisor, or online broker, and hold the funds in any type of brokerage account.
"The natural listing location of the iShares Nasdaq Biotechnology Index Fund is The NASDAQ and the transfer of the iShares S&P 100 Index Fund to the NYSE Arca is logical as well since it is joining the other iShares S&P Funds," said Michael Latham, CEO of U.S. iShares at Barclays Global Investors. "We appreciate The NASDAQ and the NYSE Arca's support of the ETF marketplace."
The iShares Funds are index funds that are bought and sold like common stocks on securities exchanges. The iShares Funds are attractive to many individual and institutional investors and financial intermediaries because of their relative low cost, tax efficiency and trading flexibility. Investors can purchase and sell shares through any brokerage firm, financial advisor, or online broker, and hold the funds in any type of brokerage account.
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