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NEW YORK, Dec. 13, 2013 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced 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 23, 2013.
"The NASDAQ-100 Index is a globally recognized brand that includes 100 of the world's most dynamic non-financial stocks listed on The NASDAQ Stock Market," said NASDAQ OMX Executive Vice President John L. Jacobs. "The objective, transparent re-ranking process ensures that the NASDAQ-100 remains a relevant investable index that is the underlying benchmark for approximately 7,200 products in 23 countries with a notional value of $1 trillion."
The following five securities will be added to the Index: DISH Network Corporation (Nasdaq:DISH), Illumina, Inc. (Nasdaq:ILMN), NXP Semiconductors N.V. (Nasdaq:NXPI), TripAdvisor, Inc. (Nasdaq:TRIP) and Tractor Supply Company (Nasdaq:TSCO).
The NASDAQ-100 Index is composed of the 100 largest non-financial stocks listed on The NASDAQ Stock Market
â and dates to January 1985 when it was launched along with the NASDAQ Financial-100 Index
â, which is comprised of the 100 largest financial stocks on NASDAQâ. 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 witching expiration Friday of the quarter.
On a cumulative price return basis, the NASDAQ-100 Index has returned almost 2800% 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 NASDAQ-100 Index performance. 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: Fossil Group, Inc. (Nasdaq:FOSL), Microchip Technology Incorporated (Nasdaq:MCHP), Nuance Communications, Inc. (Nasdaq:NUAN), Sears Holdings Corporation (Nasdaq:SHLD) and DENTSPLY International Inc. (Nasdaq:XRAY).