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The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced today the results of the annual re-ranking of the NASDAQ-100 Index (Nasdaq:NDX), which will become effective prior to market open on Monday, December 19, 2011.
"The NASDAQ-100 Index continues to be one of the most widely watched indexes in the world," said NASDAQ OMX Executive Vice PresidentJohn Jacobs. "More than $400 billion in global assets are linked to the NASDAQ-100 Index and through this objective re-ranking process it continually offers exposure to some of the world's innovative companies in a variety of sectors including technology, health care and biotechnology, and consumer goods and services."
The following five securities will be added to the Index: Avago Technologies Limited (Nasdaq:AVGO), Fossil, Inc. (Nasdaq:FOSL), Rangold Resources Limited (Nasdaq:GOLD), Hansen Natural Corporation (Nasdaq:HANS), and Nuance Communications, Inc. (Nasdaq:NUAN).
The NASDAQ-100 Index is composed of the 100 largest non-financial stocks listed on The NASDAQ Stock Market® and dates to January 1985when it was launched along with the NASDAQ Financial-100 Index®, which is comprised of the 100 largest financial stocks on NASDAQ®. These indexes act as benchmarks for financial products such as options, futures, and funds. The NASDAQ-100 is re-ranked each year in December, timed to coincide with the quadruple witch expiration Friday of the quarter.
On a cumulative price return basis, the NASDAQ-100 Index has returned 1736% since inception, although past performance is not indicative of future performance.
The NASDAQ-100 Index is the basis of the PowerShares QQQ Trust (Nasdaq:QQQ) which aims to provide investment results that, before expenses, correspond with the performance of the NASDAQ-100 Index. In addition, options, futures and structured products based on the NASDAQ-100 Index and the PowerShares QQQ Trust trade on various exchanges.
As a result of the re-ranking, the following five securities will be removed from the Index: FLIR Systems, Inc. (Nasdaq:FLIR), Illumina, Inc.(Nasdaq:ILMN), NII Holdings, Inc. (Nasdaq:NIHD), QIAGEN N.V. (Nasdaq:QGEN), and Urban Outfitters, Inc. (Nasdaq:URBN).
