Nasdaq OMX Group Inc will purchase smart beta index provider Dorsey, Wright & Associates LLC (DWA) for $225 million to boost its index business.Nasdaq will manage DWA's exchange-traded funds (ETF) and its own so-called smart beta ETFs, focused mainly on dividend and income strategies.Smart beta strategies, also known as "alternative" or "strategic beta" products, promise reasonable returns with lower risk by focusing on older, steadier companies with consistent dividends."Smart Beta represents one of the fastest growing sectors within the ETF market," DWA President Tom Dorsey said in a statement.
The NASDAQ OMX Group, Inc. (NASDAQ OMX) is a holding company. Shares of NDAQ fell by 0.21% or $-0.1/share to $47.86. In the past year, the shares have traded as low as $33.49 and as high as $49.71. On average, 935511 shares of NDAQ exchange hands on a given day and today's volume is recorded at 596409.
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