ProShares launches Nasdaq-100 Dorsey Wright Momentum ETF
ProShares, a specialist provider of ETFs, has launched the ProShares Nasdaq-100 Dorsey Wright Momentum ETF. QQQA is the first ETF focusing on select Nasdaq-100 stocks identified as having the greatest potential to outperform.
The ETF follows the Nasdaq-100 Dorsey Wright Momentum Index and relies on the expertise of Dorsey, Wright & Associates (Dorsey Wright), a recognised leader in momentum investing. Dorsey Wright identifies the 21 stocks for the index based on their proprietary “Relative Strength” approach.
“For years, the Nasdaq-100 has been a bellwether index for investing in innovative companies. ProShares is pleased to introduce the first Nasdaq-100 ETF using Dorsey Wright’s time-tested approach to identify stocks with the greatest potential to outperform,” says ProShares CEO Michael L Sapir.
Financial professionals rely on Dorsey Wright investment research, and the company’s flagship “Relative Strength” system powers the investment decisions for USD11 billion in assets.