Products June 4, 2001

NYSE Plans to Add 3 ETFs

April 6, 2001 (PLANSPONSOR.COM) - The New York Stock Exchange (NYSE) is expected to announce that is will seek approval from the Securities Exchange Commission (SEC) to trade three new exchange-traded funds (ETF).
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ETFs have increased in popularity as alternatives to mutual funds. ETFs trade throughout the day just like ordinary shares, in comparison to mutual funds, which are priced once a day, after regular trading ends at 4pm.

According to the Wall Street Journal, the new funds would include:

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  • an EFT that follows the Dow Jones Industrial average, known as Diamonds,
  • one that tracks the S&P 500 index, known as Spiders,
  • a Nasdaq 100 index tracker, known as “The Qs” for its ticker symbol QQQ

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