Of the 10 largest share repurchasers during the third quarter, just two – Home Depot (NYSE: HD) and CBS (NYSE: CBS) – reside in PKW.
Over the trailing 12 months, Apple and IBM have reduced their shares outstanding counts by 6.8% and 8.9%, respectively. If those percentages remain or increase through year-end, those two stocks would qualify for entry to the NASDAQ US BuyBack Achievers Index. [Apple Advances Toward Buyback ETF]
That index is PKW’s benchmark and “is comprised of US securities issued by corporations that have effected a net reduction in shares outstanding of 5% or more in the trailing 12 months,” according to PowerShares.
PowerShares Buyback Achievers Portfolio
Tom Lydon’s clients own shares of Apple and TTFS.