Chipmaker Texas Instruments Inc. (TXN) said Friday that it will become a component of the NASDAQ-100 Index and the NASDAQ-100 Equal Weighted Index prior to market open on Monday, April 23.
Texas Instruments will replace First Solar, Inc. (FSLR).
The NASDAQ-100 Index, launched in January 1985, is one of the most widely followed benchmarks in the world. The NASDAQ-100 Index is the basis of the PowerShares QQQ Trust (QQQ) which aims to provide investment results that, before expenses, correspond with the NASDAQ-100 Index's performance.
In addition, options, futures and structured products based on the NASDAQ-100 Index and the PowerShares QQQ Trust trade on various exchanges.
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