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XLPS

Invesco PowerShares and the Select Sector SPDRs have come to an agreement in a dispute over the use of similar tickers, with PowerShares voluntarily changing the symbols for its nine S&P SmallCap Sector ETFs. In April 2010 PowerShares launched a series of sector-specific funds focusing on small cap stocks. While the Select Sector SPDRs focus on large cap stocks, the PowerShares small suite carves up the S&P SmallCap 600 Index into nine major sectors (there are some other differences between the funds as well, such as the treatment of telecom stocks).

The ticker symbols for the suite of products were similar to the established Sector SPDRs; the letter “S” was added to the tickers for the Select Sector SPDRs (the small cap financials ETF, for example, is XLFS, while the Select Sector Financial SPDR is XLF). The Select Sector SPDRs were launched in late 1998.  [click to continue…]

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Last week was a roller coaster ride for equities, as markets began the week by plunging, then surged based on strong U.S. data. The week closed out with markets straddling the gain/loss line as U.S. unemployment saw an unexpected jump from 9.6% to 9.8% on Friday. Europe was one of the the main focuses of the week, with Ireland officially receiving a bailout equal to roughly $100 billion, in an effort to save their drowning economy from default. News then began to emerge that the debt situation in Portugal was only worsening, leading to widespread fear that yet another nation from the Euro-zone will need a large cash infusion to stay afloat. Meanwhile, gold had a strong week, as the precious metal eclipsed the $1,400/oz. mark yet again, once more within striking distance of its all-time high [see also Surging Warsaw Puts Polish ETFs In Focus].

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The first three months of 2010 saw dozens of new ETF product launches, but things really headed up in April. This past month saw the launch of more than two dozen ETFs, making it the most active month of 2010. PowerShares and ProShares were particularly active on the product development front, debuting a number of […]

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PowerShares launched nine highly anticipated new ETF products on Wednesday, introducing a line of funds that offer a new twist on traditional sector-specific investing. The nine PowerShares S&P SmallCap Sector Portfolios are based upon respective S&P SmallCap 600 Capped Sector Indexes, each of which is designed to measure the overall performance of common stocks of […]

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