Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.
Products September 15, 2008
Invesco PowerShares Releases Transportation ETF
September 15, 2008 (PLANSPONSOR.com) - Invesco
PowerShares Capital Management LLC, announced the listing of
the PowerShares Global Progressive Transportation Portfolio
that will begin trading September 18, 2008, on the Nasdaq
Stock Market.
Reported by Fred Schneyer
The PowerShares Global Progressive Transportation Portfolio (PTRP) is based on the Wilder NASDAQ OMXGlobal Energy Efficient Transport Index. The index tracks the performance of a global group of companies focused on technologies for utilization of greener, more efficient sources of energy to initiate a societal transition toward cleaner, less costly, and more efficient means of transportation.
The Index includes companies listed on global stock exchanges involved in four core focus areas: alternative vehicles; rail and subway systems; sea, land, air, and intermodal; and transport innovation. The Index is rebalanced quarterly using a modified market capitalization-weighting methodology with consideration to trading volume and float-adjusted market capitalization minimums.
“Improving the efficiency of moving people and goods worldwide through reduced fuel consumption and shortened transit times are just a few of the important issues progressive transportation companies are working to address,” said Bruce Bond, president and CEO of Invesco PowerShares, in a news release . “We believe the PowerShares Progressive Transportation ETF seeks to provide investors a convenient way to invest in a global portfolio of companies focused on sustainable transportation through the benefit-rich ETF structure.”
More information is available at www.invescopowershares.com .
« NH Pension Board Opts for Divestment Law Constitutional Challenge