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An exchange traded fund tracking the Nasdaq-100 has broken above its 200-day simple moving average while ETFs indexed to the Dow and S&P 500 are still languishing below this key technical level.

The tech-heavy PowerShares QQQ (NASDAQ:QQQ) closed with a gain Tuesday and outperformed the two blue-chip benchmarks thanks in part to strength in Apple (NASDAQ:AAPL) shares, which rose 3%.

The Nasdaq ETF advanced 0.7% on Tuesday.

Apple is a key driver and a large component of QQQ, making up 14.4% of the ETF’s total weighting.

Apple shares have also climbed back above their 200-day moving average.

The Nasdaq-100 ETF is up 4.5% over the past month.

PowerShares QQQ

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Apple

Max Chen contributed to this article.

Disclosure: Tom Lydon’s clients own QQQ and AAPL.

Source: Nasdaq ETF Rides Top Holding Apple In Break Above 200-Day Average