– Glossary

Exchange Traded Funds (ETFs)

ETFs are investments that contain a pool of securities representing a specific index such as the Dow Jones Industrial Average or the S&P 500. Essentially, ETFs are built like mutual funds but trade like stocks. They are priced continually and can be bought or sold throughout the trading day. ETFs are attractive to individual and institutional investors alike because they provide liquid, cost-efficient exposure to a broad range of asset classes. They can be shorted or purchased on margin and many of them are even optionable, such as the Nasdaq-100 Trust (QQQ).

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