Two New Exchange Traded Funds Based on NASDAQ Indexes Are Launched
25 Avril 2006 - 2:30PM
PR Newswire (US)
NEW YORK and CHICAGO, April 25 /PRNewswire-FirstCall/ -- 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 Index(SM) Fund (NASDAQ:QQEW)
and the First Trust NASDAQ-100 Technology Sector Index(SM) Fund
(NASDAQ:QTEC) -- that are based on the NASDAQ-100 Equal Weighted
Index(SM) (Symbol: NDXE) and the NASDAQ-100 Technology Index(SM)
(Symbol: NDXT), respectively. The ETFs are managed by First Trust
Advisors L.P. and listed on NASDAQ(R). 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(R), which includes 100 of the
largest non-financial securities listed on The Nasdaq Stock
Market(R) 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. DATASOURCE: NASDAQ CONTACT: Wayne Lee of NASDAQ,
+1-301-978-4875; or Jane Doyle of First Trust Advisors L.P.,
+1-630-241-8775 Web site: http://www.nasdaq.com/
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