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SiriusXM to Join the NASDAQ-100 Index

nasdaq

Sirius XM Radio today announced that it will be added to the NASDAQ-100 Index effective July 15, 2011. SiriusXM’s common shares will also be included in the PowerShares QQQ exchange traded fund.

“We are pleased to be included in the NASDAQ-100 Index,” said Mel Karmazin, Chief Executive Officer, SiriusXM.  “Inclusion in the index highlights the growth of our business and the substantial improvements in revenue, cash flow, and market value we have seen over the past two and a half years,” added Karmazin.

The NASDAQ-100 Index is composed of the 100 largest non-financial stocks listed on The NASDAQ Stock Market® and dates to January 1985.  The index acts as a benchmark for financial products such as options, futures, and funds, and reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology. It does not contain securities of financial companies including investment companies.

PowerShares QQQ is an Exchange Traded Fund (ETF) that seeks to replicate the NASDAQ-100 Index. It is used by investment professionals, private investors and financial advisors.