Exchange traded fund (ETF) provider PowerShares announced two new funds to be listed on NASDAQ. The company states that this will bring the ETF family to more than 110.
The new ETFs are:
PNXQ is based on the NASDAQ Q-50 Index which tracks the performance of 50 securities that are next in line to replace the securities currently included in the NASDAQ-100 index. PQSC is based on the FTSE NASDAQ Small-Cap index, designed to track the performance of the smallest 10% of companies in the FTSE NASDAQ index universe of listed companies ranked by market capitalization.
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