AAPL Weighting In QQQ To Be Slashed

In a move that could reignite debate over the impact of exchange-traded products on equity market volatility, NASDAQ announced on Tuesday that it will rebalance the Nasdaq-100 Index that serves as the underlying for the PowerShares QQQ (QQQ) and as the benchmark for various mutual funds. The move will affect dozens of securities, though none moreso than tech giant Apple; AAPL currently accounts for more than 20% of the index, but that weight will be cut to about 12% after the rebalance. “The Special Rebalance reflects our commitment to ensure the NASDAQ-100 Index remains a relevant benchmark for investors around the world who track the performance of the U.S. equity market,” said EVP John Jacobs. “The NASDAQ-100 Index will remain an objective, transparent, rules-based index and will be comprised of the same large-cap growth companies that have a legacy of leadership and innovation.” The Nasdaq-100 Index was originally designed to [...] Click here to read the original article on ETFdb.com. Related Posts: Understanding The Quirks Of QQQQ ETF Ticker Shakeup: QQQQ Now QQQ Where Insider Trading & ETFs Meet Tuesday’s ETF To Watch: iShares Technology Index Fund (IYW) Three ETFs To Watch This Week: QQQQ, IAI, QCLN