NYSE Plans to Add 3 ETFs

April 6, 2001 (PLANSPONSOR.COM) - The New York Stock Exchange (NYSE) is expected to announce that is will seek approval from the Securities Exchange Commission (SEC) to trade three new exchange-traded funds (ETF).

ETFs have increased in popularity as alternatives to mutual funds. ETFs trade throughout the day just like ordinary shares, in comparison to mutual funds, which are priced once a day, after regular trading ends at 4pm.

According to the Wall Street Journal, the new funds would include:

  • an EFT that follows the Dow Jones Industrial average, known as Diamonds,
  • one that tracks the S&P 500 index, known as Spiders,
  • a Nasdaq 100 index tracker, known as “The Qs” for its ticker symbol QQQ