Return to Me Says QQQ to Green Mountain

Green Mountain Coffee Roasters GMCR is headed back to NASDAQ-100 for an encore run in the index, meaning the stock famously sold short by David Einhorn's Greenlight Capital will soon rejoin the PowerShares QQQ QQQ. The $36.5 billion QQQ is also known as the NASDQ 100 tracking ETF. Green Mountain will also join the NASDAQ-100 Equal Weighted Index NDXE and the NASDAQ-100 Ex-Tech Sector Index NDXX prior to market open on Thursday, August 22, 2013, according to a statement by NASDAQ OMX Global Indexes. The statement was released Thursday after the close of U.S. markets. Green Mountain had market value of $11.1 billion at Thursday's close, implying it will be relatively scant part of QQQ's lineup. Discount retailer Dollar Tree DLTR has a market cap of nearly $11.5 billion, but a weight of just 0.33 percent in QQQ. QQQ, the sixth-largest U.S. ETF, has made some exciting changes this year, including replacing Oracle ORCL with Elon Musk's electric car maker Tesla TSLA. Since July 16, a day after joining the NASDAQ 100, shares of Tesla are up 28.1 percent. However, Green Mountain shareholders may not want their stock to rejoin the index. It was booted from the NASDAQ 100 late last year and has risen 70 percent this year. Green Mountain's membership in the NASDAQ-100 Equal Weighted Index means the stock is eligible to become part of the First Trust NASDAQ-100 Equal Weight Index Fund QQEW and the Direxion NASDAQ-100 Equal Weighted Index Shares QQQE. Currently, Green Mountain is not a significant holding in many ETFs. The PowerShares Dynamic Food & Beverage Portfolio PBJ, home to $322.4 in assets, has one of the larger weights to the stock among ETFs at 2.6 percent. For more on ETFs, click here. Disclosure: Author does not own any of the securities mentioned here.