QQQ - Nasdaq 100 Trust Message Board

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Non-Tech : QQQ - Nasdaq 100 Trust

QQQ 629.07

+0.5%

Oct 31 4:00 PM EDT

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To: HighTech who wrote (802)	10/23/2002 7:49:36 PM
From: Dan Duchardt	Read Replies (2) of 840

The QQQ trust owns stock in the Naz 100 (NDX) in proportion to the weightings used to construct the index. The nominal value of QQQ is 1/40 of the value of the NDX, but since QQQ trades freely it can and does deviate from this nominal value. The .025 level on the chart represents the nominal 1/40 relationship, and the actual ratios ranging from about .023 to .027 shows that QQQ gets ahead of or behind the NDX. If you reduce the time period to see individual day bars, you see that most of these excursions are at the day open and are nearly gone by the end of the day.. It would perhaps have been better if I had set the chart to a line chart to just show market close values, but those deviations are so small that the chart does not even show the last decimal place in the levels. stockcharts.com[w,a]daclyyay[dc][pb50!b200][vc60][iUb14!La12,26,9]&pref=G The point is that the deviations from the nominal ratio are small, except for the rather fictitious difference resulting from overnight gaps, and that in any case they appear to be random noise. I don't see any pattern to these deviations.

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