ETF Trends
ETF Trends

The $24.4 billion PowerShares QQQ (NasdaqGM: QQQ) could see trading volume spike Tuesday on a special rebalancing of its tracking index and news on top holding Google.

PowerShares QQQ, an exchange traded fund (ETF) that follows the Nasdaq-100 Index, was down fractionally in premarket action Tuesday along with the major U.S. stock indicators.

Nasdaq OMX Group said it plans to rebalance the Nasdaq-100 in a move that will lower Apple’s weighting in the tech-heavy benchmark.

Conversely, top holding Google will see its weighting raised to nearly 6%, according to Nasdaq estimates. Google is being considered for a broad antitrust investigation by the U.S. Federal Trade Commission, Bloomberg reported Tuesday.

Separately, top Google executive Jonathan Rosenberg has resigned, according to reports.

The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.