Shares of the PowerShares Dynamic Media Portfolio (NYSEArca: PBS) are trading higher by just pennies Wednesday after despite talk of possible marriage of two of the ETF’s top-10 holdings.
Earlier Wednesday, Alex Sherman for Bloomberg reported Dish Network’s (NasdaqGS: DISH) Chairman Charlie Ergen contacted DirecTV (NasdaqGS: DTV) CEO Mike White to talk about a merger of the satellite television giants.
“Although White is hesitant to pursue a deal, he hasn’t ruled it out entirely, one person said. The talks are being conducted at a senior level with no official process yet under way, several people said,” according to Bloomberg. Shares of DirecTV are up nearly 8% at this writing while Dish is higher by 9.4%.
DISH is the largest holding in PBS with a weight of 5.25% while DirecTV is the ETF’s sixth-largest holding with an allocation of 4.99%, according to PowerShares data.
Of nearly 900 ETFs tracked by S&P Capital IQ, the $300.8 million PBS is the only one that features both Dish and DirecTV among its top-10 holdings, according to the research firm.