Building upon the success of our current line-up of Momentum ETFs, PowerShares announces a new suite of Momentum Sector ETFs and a Nasdaq Momentum ETF:
On December 17th, the Board of Trustees approved name, investment objective, underlying index, and investment policy and strategy changes for the following ETFs. These changes are scheduled to take effect on February 19, 2014:
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“As with our existing PowerShares DWA Momentum ETF lineup, these portfolios will be based on momentum strategies as measured by Dorsey Wright’s definition of relative strength characteristics, which can be a powerful tool for stock selection,” said Lorraine Wang, Invesco PowerShares global head of ETF products and research. “The momentum indexes were developed by Dorsey Wright who we believe remains a leader in relative strength investing.”
Very exciting news! We will be talking much more about these new ETFs in the coming weeks.