Avago Technologies Ltd., a maker of semiconductor components, and watchmaker Fossil Inc. are among five companies picked to join the Nasdaq-100 Index this month.
Nasdaq OMX Group Inc. said in a Dec. 9 statement that Hansen Natural Corp., Nuance Communications Inc. and Randgold Resources Ltd. will also be included in the gauge. The changes will take effect before the market opens on Dec. 19.
The 100-company measure of the biggest non-financial companies listed on the Nasdaq Stock Market serves as the basis for the PowerShares QQQ Trust, which was the fifth most-traded U.S. exchange traded fund during the past 30 days, according to data compiled by Bloomberg. More than $400 billion in assets are linked to the measure, according to Nasdaq OMX.
The companies will replace Flir Systems Inc., Illumina Inc., NII Holdings Inc., Qiagen NV and Urban Outfitters Inc.
The Nasdaq-100 has climbed 4.6 percent this year, compared with the 0.2 percent decline in the Standard & Poor’s 500 Index and the 4.9 percent drop in the Russell 2000 Index.