Many eyes on Wall Street have wandered away from trading screens to follow March Madness and the NCAA men’s basketball tournament.
There exists an ETF that is heavily exposed to a number of companies that are integral parts of the broadcast of the entire March Madness season over the next several weeks, and that fund is PowerShares Dynamic Media (NYSEArca: PBS).
The fund follows the Dynamic Media Intellidex Index, which is a quantitative/fundamentally driven methodology that screens the universe of U.S. equities and ranks and weights them based on investment criteria including fundamental growth, stock valuation, investment timeliness, and risk.
Currently, top weightings of the 31 total holdings in the ETF are TWC (5.42%), CMCSA (5.37%), CBS (5.13%), NWSA (5.00%), and TWX (4.86%).