Charter Communications Inc. stock rose about 2 percent, or 37 cents per
share, closing at $14.88 Monday after the MSO was added to the NASDAQ-100
In a statement, NASDAQ said it updates the index every year at this time
based on a company's number of shares outstanding and stock price.
About 23 domestic mutual funds and seven international funds are linked to
the index, and a new addition usually results in an increase in share price as
fund managers scramble to readjust their portfolios.
Charter will be officially added to the index Dec. 24, along with 13 other
Each of the shares in the index are also included in the NASDAQ-100 Index
tracking stock, which represents ownership in the NASDAQ Trust.
The trust holds a portfolio of equity securities that include the NASDAQ-100
Index, aiming to provide investment results that generally correspond with the
Since its inception in March 1999, the trust's total assets have grown to
more than $22 billion.
The index tracking stock -- which is an exchange-traded fund that trades like
a stock -- is the world's most actively traded ETF. On most trading days, it is
also the second-most actively traded security in the United States, according to