TY - JOUR T1 - Institutional Investors and the Emergence of QQQ JF - ETFs and Indexing SP - 162 LP - 166 VL - 2001 IS - 1 AU - John L. Jacobs Y1 - 2001/09/21 UR - http://guides.pm-research.com/content/2001/1/162.abstract N2 - The Nasdaq-100 Index Tracking StockSM (symbol: QQQ) occupies an important place among today's investment and trading publics. In the two years since its inception, QQQ has become something of a phenomenon, achieving global stature, attracting customer orders from outside the U.S., as well as generating interest in numerous equity markets abroad. Nasdaq® has granted licenses to the New York Stock Exchange and several other regional U.S. stock markets to allow them to trade QQQ on an unlisted basis. By tapping capital from a diverse group of geographic regions and investor categories, QQQ has promoted liquidity in the Nasdaq stocks which make up the Nasdaq-100 Index®, to the significant benefit of both issuers and investors. This article explores the reasons for its remarkably rapid acceptance and the role that institutional investors, retail investors, and professional traders have assumed in that success. ER -