PowerShares Will Shutter 10 ETFs
ETF issuer PowerShares has decided to shutter 10 of its ETFs, bringing the number of closed ETFs this year over 40. Low volume and weak asset hauls are likely the culprit behind the closure of the following ETFs:
PowerShares Dynamic Healthcare Services Portfolio (NYSE: PTJ), $14.6 million
PowerShares Dynamic Telecommunications & Wireless Portfolio (NYSE: PTE), $16.3 million
PowerShares FTSE NASDAQ Small Cap Portfolio (Nasdaq: PQSC), $1.2 million
PowerShares FTSE RAFI Europe Portfolio (NYSE: PEF), $12.2 million
PowerShares FTSE RAFI Japan Portfolio (NYSE: PJO), $7.4 million
PowerShares Global Biotech Portfolio (Nasdaq: PBTQ), $3.72 million
PowerShares Global Progressive Transportation Portfolio Nasdaq: PTRP), $5.65 million
PowerShares NASDAQ-100 BuyWrite Portfolio (Nasdaq: PQBW), $5.5 million
PowerShares NXQ Portfolio (Nasdaq: PNXQ) $3.73 million;
PowerShares Zacks Small Cap Portfolio (NYSE: PZJ), $14.4 million
The ETFs will stop trading on December 14. On the bright side, PowerShares has rolled out 12 new ETFs this year.
Chicago-based PowerShares is the fifth-largest U.S. ETF company by assets, with $50.21 billion under management at the end of the third quarter, according to data compiled by IndexUniverse.com.
