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"The Nasdaq-100 Index Tracking Stock's first year performance is a tribute to the extraordinary growth companies listed on The Nasdaq Stock Market and The Nasdaq-100®," said Frank G. Zarb, Chairman and CEO, National Association of Securities Dealers (NASD)-parent of the Nasdaq-Amex Market Group. " We tip our hat, as well, to our market makers-NASD members one and all-that provide these companies with liquidity and visibility. The QQQ continues to be an exciting vehicle for investors-whether an individual or institution- to share in the strength of the new economy, all in one security. We're proud of its success."
The Nasdaq-100 Index Tracking Stock was launched on March 10, 1999, to provide investors with an instrument that seeks to track the performance of the Nasdaq-100 Index. The Nasdaq-100 Index Tracking Stock is composed of securities that represent ownership in the Nasdaq-100 TrustSM, a unit investment trust designed to track the performance of the Nasdaq-100 Index.
The Trust's objective is to provide investment results that generally correspond with the performance of the Index at a ratio of 1/40. The Nasdaq-100 Index, launched in January 1985, rose over 101 percent in 1999.
Notable milestones and performance indicators during the Nasdaq-100 Index Tracking Stock first-year of trading include: total assets at a record level of over $12 billion as of March 24, 2000 close; a price increase of 130 percent since its initial listing. The Nasdaq-100 Index Tracking Stock has risen 29 percent this year alone; average daily share volume of 12 million since inception. The average daily share volume of QQQ during 2000 is 30.7 million shares; and a two-for-one stock split announced on February 14, 2000, became effective prior to the market open on March 20, 2000.
Past performance, however, is not necessarily indicative of future performance and the performance of the Nasdaq-100 Index Tracking Stock does not represent Index performance .
The Nasdaq Stock Market lists nearly 5,000 companies, has the largest dollar volume of trades of any financial market, and trades more shares per day than any other major U.S. market. Current market capitalization is $6.44 trillion. Nasdaq is a subsidiary of the National Association of Securities Dealers, Inc. (NASD®), the largest securities-industry, self-regulatory organization in the United States. For additional information on the Nasdaq-100 Index or QQQ, please visit the Nasdaq-100 Web site at www.nasdaq-100.com. For more information about Nasdaq, visit the Nasdaq Web site at www.nasdaq.com or the Nasdaq NewsroomSM at www.nasdaqnews.com.
