Monday, May 3rd ETF Movers: FRI, PWO

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May 3, 2010 5:46pm NYSE:FRI NYSE:PWO

In midday trading Monday, the First Trust S&P REIT Index Fund ETF (AMEX:FRI) is outperforming other ETFs, up about 3.6% on the day. Components of that ETF showing particular strength include

 shares of Pennsylvania RL Estate Investment (NYSE:PEI), up about 9.6% and shares of Colonial Properties Trust (NYSE:CLP), up about 8.3% on the day.  And underperforming other ETFs today is the Dynamic OTC Portfolio ETF (AMEX:PWO), off about 2.3% in Monday afternoon trading. Among components of that ETF with the weakest showing on Monday were shares of Integra Lifesciences Holdings (NASDAQ:IART), lower by about 4%, and shares of Microstrategy (NASDAQ:MSTR), lower by about 2.2% on the day.

About The First Trust S&P REIT Index Fund ETF (AMEX:FRI):  The investment seeks to replicate, net of expenses, of the S&P REIT Composite index. The fund invests at least 90% of assets in securities that comprise the index. The index is consists of 100 companies and covers approximately 89% of the U.S. REIT market capitalization. The fund is nondiversified.

About The Dynamic OTC Portfolio ETF (AMEX:PWO):  The PowerShares Dynamic OTC Portfolio (Fund) is based on the Dynamic OTC Intellidex Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is comprised of US stocks from each sector identified as having the greatest capital appreciation pursuant to a proprietary Amex Intellidex Methodology.

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