First Trust launches two ETFs on NASDAQ

NEW YORK Feb 14 (Reuters) - First Trust Advisors L.P. on Wednesday launched an exchange-traded fund based on an index tracking clean-energy companies and another based on non-technology companies companies in the NASDAQ-100 Index.

The two ETFs began trading on the NASDAQ.

The First Trust NASDAQ Clean Edge U.S. Liquid Series Index Fund (QCLN.O) consists of 46 stocks of companies involved in various areas or clean energy, such as solar and bio-fuels.

The First Trust NASDAQ-100 Ex-Technology Sector Index Fund (QQXT.O) consists of 58 companies involved in consumer goods ands services, healthcare and other non-technology businesses.

The NASDAQ-100 Index .XNDX includes 100 of the largest domestic and international non-financial securities listed on NASDAQ.

The clean energy fund tracks the NASDAQ Clean Edge U.S. Liquid Series Index .CELS developed by Nasdaq and Clean Edge Inc., a company with offices in Oakland, California and Portland, Oregon.

The Clean Edge index has four major sub-sectors, including renewable fuels and electricity generation, which takes in companies involved in bio-fuels, solar and wind energy and other areas.

The energy intelligence sub-sector includes companies involved in areas such as power controls and management of the power grid, while the energy storage & conversion sub-sector has companies involved in batteries including those used in hybrid vehicles.

The advanced energy-related materials sub-sector includes companies engaged in alternatives to petroleum for feed stocks.

"As the world shifts from fossil fuel, these are the companies that are going to benefit," Steven bloom, senior vice president for financial products of the Nasdaq Stock Market said at a briefing.

Dan Waldron, vice president of First Trust Portfolios, said the Clean Edge index uses companies that are "more of a pure play" on clean energy and excludes companies that get most of their revenue from other sources.

The Clean Edge U.S. Liquid Series Index is a modified market capitalization-weighted index with limitations designed to keep a small number of companies from dominating. Component companies are listed on the Nasdaq and on other exchanges.

The Nasdaq 100 Ex-Tech Sector Index .NDXX is an equal-weighted index.

ETFs trade throughout the day and are bought and sold through brokers.

First Trust Advisors, a privately-held company based in Lisle, Illinois, manages about $28 billion, including exchange-graded funds, unit investment trust and closed-end funds.