Invesco’s (NYSE: IVZ) PowerShares unit, the fourth-largest U.S. ETF issuer, said Wednesday it will shutter four ETFs while changing the names and underlying indices for 10 others.
Nine PowerShares dynamic sector funds will transition to momentum indices from Dorsey Wright & Associates and change their names to reflect those index changes. The Powershares Dynamic OTC Portfolio (NYSEArca: PWO) will become the PowerShares DWA Nasdaq Momentum Portfolio (NasdaqGS: DWAQ). The other names and index changes are reflected below.
Dorsey Wright momentum strategies are currently used for popular PowerShares ETFs such as the PowerShares DWA SmallCap Momentum Portfolio (NYSEArca: DWAS) and the PowerShares DWA Emerging Markets Momentum Portfolio (NYSEArca: PIE) among others. [Another Momentum ETF Tops $1B in Assets]