New York & Chicago, April 25, 2006— The Nasdaq Stock Market, Inc.
(NASDAQ: NDAQ) and First Trust Advisors L.P. have announced the launch of two
new exchange traded funds (ETFs) - the First Trust NASDAQ-100 Equal Weighted
IndexSM Fund (NASDAQ: QQEW) and the First Trust NASDAQ-100
Technology Sector IndexSM Fund (NASDAQ: QTEC) - that are based on the
NASDAQ-100 Equal Weighted IndexSM (Symbol: NDXE) and the NASDAQ-100
Technology IndexSM (Symbol: NDXT), respectively. The ETFs are
managed by First Trust Advisors L.P. and listed on NASDAQ®
.
The NASDAQ-100 Equal Weighted Fund and the NASDAQ-100 Technology Sector Fund
are designed to correspond to the price and yield performance of the indexes on
which they are based. ETFs are financial products that trade like shares of
stock and can be bought and sold throughout the trading day.
“These new ETFs were created in response to investor demand,” said NASDAQ
Executive Vice President John Jacobs, “and this collaboration with First Trust
is indicative of our commitment to offer investors products that help them
reach their investment objectives. The development of ETFs that are based on
NASDAQ’s industry leading companies bolsters First Trust’s reputation as a
provider of innovative financial products and services.”
“First Trust is proud to team up with NASDAQ to launch these new products on
one of the most innovative exchanges in the world,” said First Trust Advisors
Managing Director Scott Hall. “We have a long and successful history with
NASDAQ and hope to continue this great relationship with additional listings of
new ETFs in the future.”
The NASDAQ-100 Equal Weighted Index is the equal weighted version of the
NASDAQ-100 Index®, which includes 100 of the largest
non-financial securities listed on The Nasdaq Stock Market®
based on market capitalization. The index contains the same securities as the
NASDAQ-100 Index, but each of the securities is initially set at a weight of
1.00% of the index and is rebalanced quarterly.
The NASDAQ-100 Technology Sector Index is an equal weighted index based on
technology companies in the NASDAQ-100 Index. The NASDAQ-100 Technology Index
contains securities in the NASDAQ-100 Index that are classified as technology
according to the ICB Classification System. Each of the securities is initially
set at an equal weight of the Index and is rebalanced quarterly.
About NASDAQ
NASDAQ is the largest U.S. electronic stock market. With approximately 3,200
companies, it lists more companies and, on average, trades more shares per day
than any other U.S. market. It is home to companies that are leaders across all
areas of business including technology, retail, communications, financial
services, transportation, media and biotechnology. NASDAQ is the primary market
for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the
NASDAQ Web site at http://www.nasdaq.com or
the NASDAQ Newsroom at
http://www.nasdaq.com/newsroom/.
About First Trust Advisors L.P.
First Trust Advisors L.P., a registered investment adviser, is an Illinois
limited partnership formed in 1991. First Trust Portfolios L.P., the largest
independent unit investment trust sponsor in North America (by sales), is an
affiliate of First Trust Advisors. First Trust Advisors serves as an investment
adviser to separately managed accounts, insurance companies, profit-sharing
plans, and charitable foundations and endowments. First Trust Advisors
currently manages or supervises approximately $25 billion in assets as of
3/31/06. You should consider the Fund's investment objectives, risks, charges
and expenses carefully before investing. Call 800-621-1675 to request a
prospectus, which contains this and other information abut the Fund. Read it
carefully before you invest or send money. Like all investment company
securities, the shares of the Fund are not insured by the FDIC or any other
government agency, are not issued or guaranteed by any bank, and may lose
value.
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Media Contact:
Wayne Lee
301.978.4875
First Trust
Jane Doyle
630.241.8775
