APC dropped from Nasdaq 100

NEW YORK (Bloomberg) — American Power Conversion, which has seen its stock price drop dramatically these last several months, has been removed from the Nasdaq 100 index. APC was among a dozen companies dropped from the listing. The Nasdaq adjusts the index’s membership four times a year so it continues to contain the 100 largest non-financial Nasdaq companies. Stocks going into the Nasdaq 100 are likely to rise while those being removed may fall because managers of funds that seek to mimic the index’s performance will have to adjust their holdings. The Nasdaq-100 Index tracking stock, for example, has about $24 billion in assets.