The exchange traded fund (ETF) that tracks the Nasdaq 100 hit a three-month high in trading yesterday after its 10 most-heavily weighted components moved higher. It doesn’t seem like it’s going to stick if the midday retreat in the markets holds, though.
The PowerShares QQQ (QQQQ) closed Thursday at their highest price since Jan. 14, reports Tomi Kilgore for Thomson Financial.
Apple (AAPL) gave the index a boost after it posted earnings that exceeded expectations at the close of trading on Wednesday. Apple is the index’s most heavily-weighted component, with 10.4% of assets. Qualcomm (QCOM) is the third largest component, with 5.7% of assets. The wireless technologies company also had reported stronger than expected earnings.
