03/20 10:48 Nasdaq-100 Index Tracking Stock(SM) Tops $10 Billion In Assets
and Effects
Nasdaq-100 Index Tracking Stock(SM) Tops $10 Billion
In Assets and Effects Stock Split
WASHINGTON, March 20 /PRNewswire/ -- The Nasdaq Stock Market(R) reported today that total assets in the Nasdaq-100 Index Tracking Stock(SM) (Amex: QQQ) rose to a record level of over $10 billion as of Friday's close. In addition, the two-for-one stock split announced on February 14, 2000 that it became effective prior to the market open today.
The Nasdaq-100 Index Tracking Stock is composed of securities that represent ownership in the Nasdaq-100 Trust(SM), a unit investment trust designed to track the performance of the Nasdaq-100 Index(R). The Nasdaq-100 Index Tracking Stock was launched on March 10, 1999, to provide investors with an instrument that seeks to track the performance of the Nasdaq-100 Index. The Nasdaq-100 Trust began with less than $15 million in net assets and has increased substantially over this past year.
"We have just passed the one year anniversary and are thrilled to see the Trust surpass the $10 billion milestone. The interest is QQQ should increase further with the two-for-one stock split, making it more accessible to investors of all sizes," said John L. Jacobs, Nasdaq Senior Vice President and the QQQ product manager. The Nasdaq-100 Index, launched in January 1985, has risen more than 19.5 percent this year alone, although past performance is not necessarily indicative of future performance.
The Nasdaq Stock Market lists nearly 5,000 companies, has the largest dollar volume of trades of any financial market, and trades more shares per day than any other major U.S. market. Current market capitalization is $6.44 trillion. Nasdaq(R) is a subsidiary of the National Association of Securities Dealers, Inc. (NASD)(R), the largest securities-industry, self-regulatory organization in the United States. For additional information on the Nasdaq- 100 Index or QQQ, please visit the Nasdaq-100 Website at www.nasdaq-100.com. For more information about Nasdaq, visit the Nasdaq Web site at www.nasdaq.com or the Nasdaq Newsroom(SM) at www.nasdaqnews.com.
While there is no assurance that the performance of the Nasdaq-100 Index can be fully matched, Nasdaq-100 Index Tracking Stock is designed to provide investment results that generally correspond to the performance of the Nasdaq- 100 Index.
For more complete information about Nasdaq-100 Shares, including charges, expenses, and potential risks, obtain a prospectus from your broker, or call 800-843-2639 or visit our Web site at www.nasdaq-100.com. Read it carefully before you invest.
The sponsor of the Nasdaq-100 Trust, a unit investment trust, is Nasdaq Investment Product Services, Inc. ("NIPS"), a wholly owned subsidiary of The Nasdaq Stock Market, Inc. ("Nasdaq," and collectively with its affiliates except NIPS, the "Corporations"). ALPS Mutual Funds Services, Inc. a registered broker/dealer, is distributor for the Trust. Investment returns and principal value will fluctuate so that an investor's shares, when redeemed or sold, may be worth more or less than the original cost.
"Nasdaq" and related marks are trademarks or service marks of Nasdaq and have been licensed for use for certain purposes by NIPS. The Nasdaq-100 Index is composed and calculated by Nasdaq without regard to Nasdaq-100 Shares. The Corporations make no warranty, express or implied, and bear no liability with respect to Nasdaq-100 Index Tracking Stock. The Corporations and NIPS make no warranty, express or implied, and bear no liability with respect to the Nasdaq-100 Index, its use or any data included therein. SOURCE Nasdaq Stock Market
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/CONTACT: Wayne Lee, 202-728-8067, or Mark Gundersen, 202-728-8197, both of Nasdaq/ -- DCM022 -- 6577 03/20/2000 10:32 EST prnewswire.com Copyright PR Newswire 1998. All rights reserved. |
