Eight new exchange-traded funds from PowerShares Capital Management
are expected to begin trading on October 26 on the American Stock Exchange.
The funds include the previously reported "Dynamic" series sector-focused funds, which cover the Building & Construction, Energy Exploration & Production, Utilities, Retail, Oil & Gas Services and Insurance industries.
The fund launch will also include two new ETFs based on the aerospace and nanotechnology industries.
The PowerShares Aerospace and Defense Portfolio is designed to track the SPADE Defense Index, an index made up of companies providing space industry infrastructure, warfare technology and security services. Companies must have a market capitalization of at least $100 million, trade at least one million shares per month and trade for at least $5 per share.
The PowerShares Lux Nanotech Portfolio tracks the Lux Nanotech Index, which includes companies developing, manufacturing and funding nanotechnology applications.
With the launch of the eight new funds, PowerShares will offer a total of 17 ETFs.
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