Wednesday March 31st ETF Movers: PSTL, ITB
In midday trading Wednesday, the PowerShares Global Steel ETF (PSTL) is outperforming other ETFs, up about 2.8% on the day. And underperforming other ETFs today is the iShares Dow Jones US Home Construction ETF (ITB), off about 1.1% in Wednesday afternoon trading.
About the PowerShares Global Steel ETF (PSTL):
The investment seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of the index called the NASDAQ OMX Global Steel Index. The fund normally invests at least 90% of assets in the securities that comprise the underlying index and ADRs and GDRs based on the securities in the underlying index. It normally invests at least 80% of total assets in securities of companies involved in the steel industry. The fund is nondiversified.
About the iShares Dow Jones US Home Construction ETF (ITB)
The investment seeks investment results that tracks Dow Jones U.S. Select Home Construction index. The fund generally invests at least 90% of assets in securities of the Underlying index and depositary receipts representing securities of the Underlying index. It may invest the remainder of assets in securities not included in the Underlying index but which BGFA believes will help the fund track Underlying index, and in futures contracts, options on futures contracts, options and swaps as well as cash and cash equivalents, including shares of money market funds advised by BGFA. The fund is nondiversified.
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