ETF Trends
ETF Trends

The PowerShares QQQ (NasdaqGM: QQQ), the Nasdaq-100 (NDQ) tracking exchange traded fund, is getting a new constituent later this month.

Railroad operator CSX (NYSE: CSX) “will become a component of the NASDAQ-100 Index® (Nasdaq:NDX) and the NASDAQ-100 Equal Weighted Index (Nasdaq:NDXE) prior to market open on Monday, February 22, 2016. CSX Corporation will replace KLA-Tencor Corporation (KLAC),” according to a Nasdaq statement.

Though still technology-heavy (the sector is QQQ’s largest industry weight), the Nasdaq-100 is no longer the “all tech” index it was viewed as when it debuted 30 years ago.

QQQ currently holds 106 stocks as it underwent index changes to make way for multiple share classes of technology companies such as Google parent Alphabet (NasdaqGS: GOOG).

PowerShares QQQ

Tom Lydon’s clients own shares of QQQ.

The opinions and forecasts expressed herein are solely those of Tom Lydon, 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.