BlackRock launches iShares Nasdaq 100 ETF, challenging Invesco's market position
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According to Reuters, BlackRock has launched the iShares Nasdaq 100 ETF, which tracks the Nasdaq 100 Index, with the ticker IQQ. The initial net asset value per share is $24, and trading began on Thursday. This ETF challenges a certain exchange's QQQ and QQQM ETFs, while State Street launched QNDX last month. Nasdaq has revised its listing standards to accelerate the inclusion of new listed companies into the index. The AI-driven demand for technology stocks has propelled the Nasdaq 100 Index to its best quarterly performance since April 2020 in the quarter ending June. BlackRock manages over $41 billion in assets through other Nasdaq 100 strategies.
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