] has changed the ticker symbol of its exchange-traded fund PowerShares QQQ
to QQQ from QQQQ, Morningstar reports
Known as the "Cubes," the "Qubes" or the "Qs," the ETF is reportedly tech-laden and is one of the most heavily traded securities on the planet, according to Morningstar.
The fund originally was listed on the Amex Stock Exchange with the ticker symbol QQQ. When the fund was moved to the Nasdaq
in December 2004, it was assigned the ticker QQQQ because all Nasdaq-listed securities were required to have four-letter symbols.
Now, with Nasdaq-listed securities permitted to have three-letter symbols, PowerShares has made the decision to change the ETF's symbol back to QQQ. The fund will continue to trade on the Nasdaq.
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