NEW YORK, CHICAGO, OAKLAND, Calif. and PORTLAND, Ore., Feb. 14, 2007 (PRIME NEWSWIRE) -- The Nasdaq Stock Market, Inc. (Nasdaq:NDAQ) and First Trust Advisors L.P. have announced the launch of two new exchange traded funds (ETFs) -- the First Trust NASDAQ(r) Clean Edge(r) U.S. Liquid Series Index Fund (Nasdaq:QCLN) and the First Trust NASDAQ-100 Ex-Technology Sector Index Fund (Nasdaq:QQXT). They are based on the NASDAQ(r) Clean Edge(r) U.S. Liquid Series Index (Symbol: CELS) and the NASDAQ-100 Ex-Tech Sector Index(sm) (Symbol: NDXX), respectively. The ETFs are managed by First Trust Advisors L.P. and listed on NASDAQ(r).
The First Trust NASDAQ Clean Edge U.S. Liquid Series Index Fund is the first investment product based on the NASDAQ Clean Edge U.S. Liquid Series Index, which is designed to track the performance of clean-energy companies that are publicly traded in the U.S. The First Trust NASDAQ-100 Ex-Technology Sector Index Fund is the first financial product based on the NASDAQ-100 Ex-Tech Sector Index, which is comprised of the securities of the NASDAQ-100 Index(r) that are classified as consumer goods and services, healthcare, and all other non-technology industries.
The First Trust NASDAQ Clean Edge U.S. Liquid Series Index Fund and the First Trust NASDAQ-100 Ex-Technology Sector Index Fund are designed to correspond to the price and yield performance of the indexes on which they are based. ETFs are financial products that trade like shares of stock and can be bought and sold throughout the trading day.
"First Trust has filled the need for investment products based on these important indexes," said NASDAQ Executive Vice President John Jacobs. "The indexes bring attention to vital sectors of the U.S. and global economies, and the ETFs reflect First Trust's commitment to extending its suite of products to broaden investor choice."
"We are pleased to introduce two more innovative products on NASDAQ," said R. Scott Hall, Managing Director of First Trust Advisors L.P. "We believe investors who are seeking tax-efficient, transparent investments that target a defined market segment will find these two ETFs helpful in meeting their financial goals."
The NASDAQ Clean Edge U.S. Liquid Series Index is a modified market capitalization- weighted index designed to track the performance of clean-energy companies that are publicly traded in the U.S. The NASDAQ Clean Edge U.S. Liquid Series Index includes companies engaged in the manufacturing, development, distribution, and installation of emerging clean-energy technologies such as solar photovoltaics, biofuels, and advanced batteries, as defined by Clean Edge. The four major sub-sectors the index covers are Renewable Fuels and Electricity Generation, Energy Storage & Conversion, Energy Intelligence, and Advanced Energy-Related Materials.
The NASDAQ-100 Ex-Tech Sector Index is an equal-weighted index based on the securities of the NASDAQ-100 Index(r) that are classified in all industries other than technology, according to the Industry Classification Benchmark (ICB) classification system. The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial securities listed on The NASDAQ Stock Market(r) based on market capitalization.
About NASDAQ
NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at http://www.NASDAQ.com or the NASDAQ Newsroom at http://www.NASDAQ.com/newsroom/.
About First Trust Advisors L.P.
First Trust Advisors L.P., a registered investment adviser, is an Illinois limited partnership formed in 1991. First Trust Portfolios L.P., the largest independent unit investment trust sponsor in North America (by sales), is an affiliate of First Trust Advisors. First Trust Advisors serves as an investment adviser to separately managed accounts, insurance companies, profit-sharing plans, and charitable foundations and endowments. First Trust Advisors currently manages or supervises approximately $28 billion in assets as of 1/31/07. You should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. Call 800-621-1675 to request a prospectus, which contains this and other information abut the Fund. Read it carefully before you invest or send money. Like all investment company securities, the shares of the Fund are not insured by the FDIC or any other government agency, are not issued or guaranteed by any bank, and may lose value.
About Clean Edge
Clean Edge, Inc., with offices in Oakland, Calif. and Portland, Ore., is a leading research and publishing firm that helps companies, investors, and policymakers understand and profit from clean technologies. Through its research and reports, conferences and events, and strategic consulting services, Clean Edge tracks and analyzes clean-tech markets, trends, and opportunities. The company publishes the annual Clean Energy Trends report, co-produces the annual Clean-Tech Investor Summit, and co-publishes the NASDAQ Clean Edge U.S. index. Launched in 2001 by environmental and high-tech business pioneers Ron Pernick and Joel Makower, Clean Edge and its network of partners and affiliates offer unparalleled insight and intelligence. For more information, visit www.cleanedge.com.