Cisco (NasdaqGS: CSCO) shares were active in Wednesday’s premarket with a fractional loss as a closely watched Nasdaq exchange traded fund was set for a mixed open.

Cisco was off 0.6% while PowerShares QQQ (NasdaqGM: QQQ) was little changed before the bell.

The Nasdaq ETF has been bouncing around its 50-day moving average lately, while Cisco shares have been trending lower. Cisco represents 3.5% of PowerShares QQQ.

Cisco earlier this month announced a reorganization of its business structure and operations. The company said its fiscal third-quarter earnings fell about 18% and expects the current quarter will continue to show weakness.

“Weak third-quarter results have triggered a crisis, following the poor financial performance in the last few years,” Indigo Equity Research said in a recent profile of Cisco.