PowerShares to Sponsor QQQ ETFs
October 22nd at 1:44am by Tom Lydon
Powershares Capital Management, a leading provider of exchange traded funds, announced an agreement to take over sponsorship of the Nasdaq-100 Trust (QQQQ), the NASDAQ-100 European Tracker (EQQQ), and four BLDRS Index ETFs (ADRE, ADRD, ADRU, ADRA). After SEC approval, sponsorship of the ETFs will be given to Powershares. Powershares does not plan to make any changes to the total expense ratios of the funds and the ticker symbols are expected to remain the same, as told by Marketwire. Powershares is the second largest issuer of ETFs in the marketplace, and one of the most innovative as well. This transaction will bring greater distribution channels for the funds and supply investor education and access to innovative products.
