Invesco launched an exchange-traded fund designed to provide buyers publicity to the highest 45% of corporations within the Nasdaq-100 Index.
Brian Hartigan, the agency’s world head of ETFs and index devices, runs Invesco QQQ Trust (QQQ), which is the fifth-largest ETF on this planet, in line with VettaFi. Now Hartigan is taking over the Invesco Top QQQ ETF (QBIG), which launched Dec. 4.
According to Hartigan, there’s a demand to seize the megacap focus story throughout the Nasdaq.
“That’s what buyers have been asking us for. How do I dial up that, that publicity and actually seize the vast majority of the drivers of returns within the Nasdaq,” Hartigan stated on CNBC’s “ETF Edge” this week.
As of Wednesday, a few of Invesco Top QQQ ETF’s prime holdings have been Apple, Nvidia and Microsoft, in line with Invesco’s web site.
Hartigan notes buyers can steadiness out their portfolio threat with comparable funds.
“You have this precision that buyers are utilizing ETFs to essentially steadiness out both underneath focus or over focus for his or her portfolios,” he stated.
As of Friday’s shut, Invesco Top QQQ ETF is up round 5.5% since its debut.
Nate Geraci, president of The ETF Store, notes different new funds have launched to permit buyers to be targeting megacaps.
“We’ve seen different issuers launch merchandise both concentrating on the most important mega-cap names or particularly avoiding them. And what that tells you is issuers are clearly conscious of this battle of the markets proper now. I feel we will proceed to see kind of this tug of warfare play out shifting ahead,” he stated.
