Indicative of the overall well-being of the exchange traded fund (ETF) industry, PowerShares announced the launch of two funds, due June 12. These two new ETFs will track Nasdaq indexes:
- PowerShares NASDAQ-100 BuyWrite Portfolio (PQBW)
- PowerShares NASDAQ Internet Portfolio (PNQI)
The idea behind PQBW is to provide investors with a strategy to conveniently invest in the covered call strategy on the 100 largest non-financial companies on the Nasdaq, reports CNN Money. PNQI will rack the performance of the largest and most liquid U.S.-listed companies engaged in internet-related business.
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.