Traded on the American Stock Exchange, ETF’s are “baskets” of stocks representing a stock market
index. They trade exactly like a regular stock.
The first and largest are the Spiders, which tracks the S&P 500. Named after S&P Depositary
Receipts, it’s stock trading symbol is SPY. Managed by the State Street Global Advisors, they first
began trading in 1993.
The second most popular of the 90 or so ETF’s are the Cubes, managed by the Bank of New York. Many
call them the Q’s, because the stock’s symbol is QQQ.