Products April 5, 2008
Two New PowerShares ETFs Come Online
Invesco PowerShares Capital Management LLC has announced the listing of two new exchange-traded funds.
Reported by Nevin E. Adams
The ticker symbols and portfolio names are:
- PNXQ – PowerShares NASDAQ NextQ Portfolio
- PQSC – PowerShares FTSE NASDAQ Small Cap Portfolio
The PowerShares NASDAQ NextQ Portfolio (PNXQ) is based on the NASDAQ Q-50 Index. The Index is designed to track the performance of the 50 securities that are next in line to replace the securities currently included in the NASDAQ-100 Index. The index reflects companies across major, non-financial industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology, and is adjusted quarterly.
The PowerShares FTSE NASDAQ Small Cap Portfolio (PQSC) is based on the FTSE NASDAQ Small Cap Index. The index is designed to track the performance of the smallest 10% of companies in the FTSE NASDAQ Index universe of listed companies ranked by market capitalization. Eligible securities for inclusion in the FTSE NASDAQ Small Cap Index include common stock, American depositary receipts (ADRs) and real estate investment trusts. The constituents of the FTSE NASDAQ Small Cap Index are float-adjusted market capitalization weighted, and selected on an annual basis.
“We are pleased to be back at the NASDAQ Stock Market celebrating the listing of two new innovative ETF portfolios,’ said Bruce Bond, president and CEO of PowerShares, in a press release. The listings bring the total number of PowerShares portfolios to more than 110.
You can find out more at http://www.invescopowershares.com.