Ticker Change: PowerShares Drops A "Q" From QQQQ

PowerShares said the PowerShares QQQ QQQQ, the ETF formerly known as the NASDAQ-100 Index Tracking Stock and affectionately known as the "quad Q's, is dropping one "Q" from the ticker on Wednesday March 23. That means the new ticker will be "QQQ," but the ETF will still trade on the Nasdaq. As of Tuesday, Apple AAPL accounts for 20.9% of QQQ's weight. Created in 1999, the ETF has more than $23 billion in assets under management. PowerShares has 140 domestic and international ETFs with $60 billion AUM as of Feb. 28, the company said in a statement.