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).
Tom Lydon’s clients own shares of QQQ.
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