PowerShares Capital Management, will soon be the sponsor for one of the most traded exchange traded funds (ETFs) on the market, Nasdaq 100 Trust (QQQQ). Nasdaq will give up the ETF on March 21. This ETF follows 100 of the largest non-financial companies listed on the exchange.
PowerShares will also handle four BLDRs ETFs based on the Bank of New York ADR Index. They include: BLDRs Emerging Markets 50 ADR (ADRE), BLDRs Developed Markets 100 ADR (ADRD), BLDRs Europe 100 ADR (ADRU) and BLDRs Asia 50 ADR (ADRA). Travis Altman of TheStreet.com reports these acquitsitions will greatly add to PowerShares assets. None of the ticker symbols or expense ratios will change due to the transaction.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.