Markets

Apple, PowerShares QQQ in Focus on Nasdaq-100 Rebalance

Apple (NasdaqGS: AAPL) shares and exchange traded funds (ETFs) that focus on Nasdaq-listed stocks could see turbulent action early in the week on a special index rebalance.

Apple will see its weighting in the Nasdaq-100 Index reduced to reflect new benchmark changes as the iPhone maker has its stake cut from over 20% to an estimated 12.3%. Nasdaq in early April said the index would undergo a special rebalance prior to the market's open on May 2. [Apple To See Weighting Reduced In Nasdaq-100 ETF.]

The $27.2 billion PowerShares QQQ (NasdaqGM: QQQ ) tracks the Nasdaq-100.

Shares of Apple and PowerShares QQQ were fractionally higher in Monday's premarket.

PowerShares QQQ

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ETFs

Latest Markets Videos