Return to Me Says QQQ to Green Mountain

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Green Mountain Coffee Roasters
GMCR
is headed back to NASDAQ-100 for an encore run in the index, meaning the stock famously sold short by David Einhorn's Greenlight Capital will soon rejoin the PowerShares QQQ
QQQ
. The $36.5 billion QQQ is also known as the NASDQ 100 tracking ETF. Green Mountain will also join the NASDAQ-100 Equal Weighted Index
NDXE
and the NASDAQ-100 Ex-Tech Sector Index
NDXX
prior to market open on Thursday, August 22, 2013, according to a statement by NASDAQ OMX Global Indexes. The statement was released Thursday
after the close of U.S. markets
. Green Mountain had market value of $11.1 billion at Thursday's close, implying it will be relatively scant part of QQQ's lineup. Discount retailer Dollar Tree
DLTR
has a market cap of nearly $11.5 billion, but a weight of just 0.33 percent in QQQ. QQQ, the sixth-largest U.S. ETF, has made some exciting changes this year, including replacing Oracle
ORCLwith Elon Musk's electric car maker
Tesla
TSLA
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. Since July 16, a day after joining the NASDAQ 100, shares of Tesla are up 28.1 percent. However, Green Mountain shareholders may not want their stock to rejoin the index. It was booted from the NASDAQ 100 late last year and has risen 70 percent this year. Green Mountain's membership in the NASDAQ-100 Equal Weighted Index means the stock is eligible to become part of the First Trust NASDAQ-100 Equal Weight Index Fund
QQEW
and the Direxion NASDAQ-100 Equal Weighted Index Shares
QQQE
. Currently, Green Mountain is not a significant holding in many ETFs. The PowerShares Dynamic Food & Beverage Portfolio
PBJ
, home to $322.4 in assets, has one of the larger weights to the stock among ETFs at 2.6 percent. For more on ETFs, click
here
. Disclosure: Author does not own any of the securities mentioned here.
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