Invesco PowerShares Capital Management LLC said that the name change highlights the ticker symbol identification (ticker: PNXQ) and will “allow for synergies in positioning the fund as a complement to the PowerShares QQQ (ticker: QQQQ), which is based on the Nasdaq-100 Index.” The firm said the fund is currently known as “the PNXQ” to many market participants.
According to a press release, the PowerShares NQX Portfolio will continue to be offered on the Nasdaq Stock Market under the existing ticker symbol (PNXQ). The investment objectives and fee structure will remain unchanged.
The PowerShares NASDAQ NextQ Portfolio, launched in April 2008 on the Nasdaq Stock Market, is based on the NASDAQ Q-50 Index (see Two New PowerShares ETFs Come Online). That index is designed to track the performance of the 50 securities that are next in line to replace the securities currently included in the NASDAQ-100 Index, according to the firm. The index reflects companies across major, non-financial industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology, and is adjusted quarterly.
More information is available at www.invesco.com.