Invesco PowerShares recently closed two of the oldest actively managed exchange traded funds, bringing the total number of active ETFs in the market down to 38, according to a report.
At the end of September, PowerShares Active Alpha Multi-Cap (NYSEArca: PQZ) and PowerShares Active AlphaQ (NYSEArca: PQY) stopped trading, writes Ron Rowland for Seeking Alpha.
The fund provider announced its intention to close the two funds back in June.
“We regularly review our family of ETFs, carefully evaluating numerous factors such as investment results, length of time in the market, investor interest, and the potential for future growth,” Ben Fulton, Invesco PowerShares managing director of global ETFs, said in the June press release. “Based on this assessment, we believe that it’s in the best interest of our investors that we refocus our resources on areas that we believe are of greater client interest.”
For more information on active ETFs, visit our actively managed ETFs category.
Max Chen contributed to this article.
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