PowerShares QQQ Trust - Unit Series 1 (QQQ)

FINANCE: GENERAL FINANCE
SIC:

PowerShares QQQ, formerly known as "QQQ" or the "NASDAQ- 100 Index Tracking Stock", represents ownership in the Nasdaq-100 Trust, a unit investment trust established to accumulate and hold a portfolio of the equity securities that comprise the Nasdaq-100 Index. PowerShares QQQ is intended to provide investment results that, before expenses, generally correspond to the price and dividend yield performance of the Nasdaq-100 Index. INDEX DESCRIPTION: The Nasdaq-100 Index constitutes a broadly diversified segment of the largest securities listed on Nasdaq. Specifically, the Index is composed of 100 of the largest non-financial securities listed on the Nasdaq National Market tier of Nasdaq by market capitalization. Nasdaq determines, comprises and calculates the Index without regard to the Trust. The Index was first published in January 1985 and includes companies across a variety of major industry groups. The Index does not contain financial companies, including registered investment companies. FUND STRATEGY: PowerShares QQQ represents undivided ownership interests in the portfolio of stocks held by the Trust. The Trust holds all of the component securities of the Nasdaq-100 Index. The Index includes 100 of the largest domestic and international nonfinancial companies listed on the Nasdaq Stock Market based on market capitalization. The Trust holds the Portfolio and cash and is not actively managed by traditional methods. The portfolio is rebalanced quarterly and reconstituted annually. FUND MANAGEMENT: PowerShares Capital Management LLC, a subsidiary of INVESCO plc (NYSE: IVZ), is the Funds' investment adviser and has overall responsibility for the selection and ongoing monitoring of the Funds' investments, managing the Funds' business affairs and providing certain clerical, bookkeeping and other administrative services.