PowerShares DWA Financial Momentum Portfolio ETF (PFI) - NYSEARCA
  • Aug. 1, 2011, 4:49 AM

    Major European hedge fund Lansdowne Partners has reportedly sold its entire $850M stake in Goldman Sachs (GS), underlining concerns about banking prospects due to regulatory changes. The divestiture has echoes of Lansdowne's exit from the industry in 2008, ahead of the financial crisis.

    | Aug. 1, 2011, 4:49 AM
PFI Description
The PowerShares DWA Financial Momentum Portfolio (Fund) is based on the DWA Financials Technical Leaders Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Index is designed to identify companies that are showing relative strength (momentum), and is composed of at least 30 common stocks from a universe of approximately 3,000 common stocks traded on US exchanges. The Fund and the Index are rebalanced and reconstituted quarterly.
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Sector: Financial
Country: United States
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