Mitt Romney Will Like This: Marriott Headed to QQQ

ETF Trends

The PowerShares QQQ (QQQ) will welcome hotel operator Marriott International (MAR) to its lineup in the coming weeks.

In a statement released Monday evening, NASDAQ OMX confirmed Marriot “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, November 18, 2013.”

Randgold Resources (GOLD) is getting the boot out of the NASDAQ-100. That stock is the fourth-largest holding in the Market Vectors Gold Miners ETF (GDX).

Marriott’s addition to the NASDAQ-100 makes eligible to join QQQ, so-called NASDAQ-100 tracking ETF. The stock’s inclusion in the NASDAQ-100 Equal Weight Index means it could also find a home in the Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) and the First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW) . [Equal-Weight Tech ETFs if You're Shy About Apple]

Based on Monday’s close, Marriott, of which former U.S. presidential candidate Mitt Romney is a board member, has a market cap of almost $14 billion.

That makes the company larger than QQQ holdings DollarTree (DLTR), Fossil Group (NasdaqG:FOSL) and Expedia (EXPE) to name a few.

Other additions to QQQ this year include Elon Musks’s Tesla (TSLA) and Green Mountain Coffee (GMCR). [Green Mountain Heads Back to QQQ]

PowerShares QQQ

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