"What is the Qubes QQQQ ETF"
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The Exchange Traded Fund ETF that is the most highly traded security in the world tracks the NASDAQ-100 index, and is called Qubes. Officially, it's NASDAQ-100 Index Tracking Stock. The ticker symbol used to be QQQ, but has been changed to QQQQ.
The Nasdaq itself stands for the National Association of Security Dealers Automated Quotation system. The NASDAQ-100 consists of the 100 largest stocks traded on the Nasdaq exchange. The sponsor of the NASDAQ-100 TrustSM is Nasdaq Global Funds, Inc. ("NGF"), a wholly owned subsidiary of The Nasdaq Stock Market, Inc.
QQQQ is a unit investment trust. The Bank of New York is the trustee. Creation units consist of 50,000 shares. The expense ratio of NASDAQ-100 Index Tracking Stock is 0.18%. Qubes themselves trade on the Nasdaq exchange. The trust has a 125 year term.
The companies covered by NASDAQ-100 Index Tracking Stock range from computer hardware and software to telecommunications to retail/wholesale, and biotechnology, but overall are heavy high-tech.
Here's the breakdown of the NASDAQ-100 QQQQ stocks by industry:
- Technology -- 55.19%
- Consumer Services -- 19.70%
- Health Care -- 13.58%
- Industrials -- 5.99%
- Consumer Goods -- 2.56%
- Telecommunications -- 2.40%
- Basic Materials -- 0.34%
- Oil & Gas -- 0.24%
As of February 28, 2007, the list of 10 largest stocks of the NASDAQ-100 were:
- Apple Computer, Inc.
- Microsoft Corporation
- QUALCOMM Incorporated
- Google Inc.
- Cisco Systems, Inc.
- Intel Corporation
- Comcast Corp.
- Oracle Corp.
- Amgen Inc.
- Ebay Inc.
These 10 QQQQ shares make up over 38% of the value of the QQQQ ETF. I was surprised to see Apple ahead of Microsoft. Of course, these rankings will shift with time.
For anyone who wishes to participate the tech revolution without buying stocks of all NASDAQ-100 companies, Qubes are an easy way to go. Their price and value will go up and down in almost perfect sync with the combined performance of those 100 companies. Many people trade the QQQQ.
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