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PowerShares Global Coal Portfolio ETF (PKOL)

- NASDAQ
PKOL is defunct since February 26, 2013. Lack of investor interest
  • Feb. 26, 2013, 3:57 PM
    PowerShares has shuttered 13 ETFs, representing less than 1% of the issuer's AUM, as of today's close. Affected funds follow (with competing funds in parentheses): PIC (KIE, IAK, KBWP, KBWI), PYH, PJB (IAT, KBE, KRE, RKH, QABA, KRU, KRS, KBWR), PSTL (SLX), PLK, PWND (FAN), PMA, PKOL (KOL), PKN (NLR, NUCL, URA), PTO, PAO, PCA and CVRT. (pdf)
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  • Jan. 14, 2013, 9:31 AM
    The battered coal sector finds a champion with Apollo Global (APO) teaming with NRI Management to invest $300M in coal-focused mining properties worldwide. "We believe the long-term prospects for the global coal industry are highly compelling." (PR)
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  • Jan. 4, 2013, 10:46 AM
    Two top senators on the Energy and Natural Resources Committee call for an investigation into whether coal companies stand to short taxpayers hundreds of millions of dollars on export sales. At issue is mining in the coal-rich Powder River Basin in Wyoming and Montana, which is mostly on federal land and mining companies pay a royalty to extract fuel from it.
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  • Dec. 31, 2012, 2:19 PM
    Coal stocks are posting decent gains in response to a strong Chinese PMI reading. in addition to Cliffs Natural, Peabody Energy (BTU +3.5%), Arch Coal (ACI +3%), Alpha Natural (ANR +4.6%), and Cloud Peak Energy (CLD +3.1%) are also rallying. Many coal stocks have sizable short interests, and many of those shorts have made big profits this year.
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  • Dec. 19, 2012, 12:59 PM
    PowerShares announces (full list) the imminent closing of another 13 ETFs (YTD total now over 100). They'll stop trading on Feb. 26 and be liquidated by March 7.
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  • Dec. 19, 2012, 12:25 PM
    Reports that China will lift its 40% export tariff on coke coal and semi-coke coal beginning Jan. 1 has U.S. coke exporters on edge, since China has significant excess capacity, according to Nomura. China's coke exports could compound current market dynamics struggling with oversupply and the lowest prices since 2009. the firm foresees.
    | 9 Comments
  • Dec. 18, 2012, 3:27 PM
    Coal stocks are outperforming following comments from the International Energy Agency, which said it expects coal to eclipse oil as world's top energy source around 2017. Among stocks posting solid gains: ANR +4.4%, ACI +3.2%, BTU +2.7%, CNX +1.8%, WLT +0.7%.
    | 3 Comments
  • Dec. 18, 2012, 5:25 AM
    U.S. coal consumption will drop 14% from 2011-2017, the International Energy Agency forecasts, due to the shale gas revolution prompting power companies to abandon coal. Overseas, the picture is totally different, with coal demand booming in China, India and other emerging markets. The problem for U.S. producers is that international prices are low. The IEA predicts restructuring for the sector and possible job losses.
    | 17 Comments
  • Dec. 17, 2012, 12:22 PM
    Peabody Energy's (BTU -2.1%) price target is lowered to $32 by Citigroup, which lowers its FY 2013 EPS estimate well below consensus after BTU provided a preliminary Q1 and full-year 2013 outlook that came in lighter than expected.  Other coal names also slide: WLT -1.7%, ACI -1.4%, CLD -0.9%, ANR -0.5%, CNX -0.3%.
    | 2 Comments
  • Dec. 14, 2012, 3:10 PM
    Peabody Energy (BTU +0.3%) expects its Q1 2013 results to come in weaker than originally thought, but sees increased U.S. gas-to-coal switching, and thinks global seaborne coal markets show signs of improving next year. The optimistic take overlooks high inventories, weak export demand and rising regulation; most coal shares are higher: ANR +3.2%, WLT +2.5%, ACI +1.3%.
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  • Dec. 10, 2012, 2:58 PM
    Coal companies power higher, perhaps attributable to reports that damage at British Columbia's Westshore coal terminal is taking longer to repair than expected. Teck Resources (TCK +2.7%), a top Westshore customer, says it will continue to ship through the second berth at the terminal but explore options for moving additional tonnage elsewhere. CLF +5.1%, ANR +7.9%, WLT +4.3%.
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  • Dec. 10, 2012, 9:06 AM
    Goldman Sachs cuts 2013-14 met coal prices, predicting a slower, longer grind back to mid-cycle. The firm says reductions to its forecasts for China, Europe and Japan seaborne imports mean less Australia and U.S. exports should be needed. Goldman remains neutral on U.S. coal stocks, but cuts price targets for ANR, ACI, CNX, BTU, SXC and WLT.
    | 10 Comments
  • Dec. 5, 2012, 3:19 PM
    Coal stocks are strong following reports China’s new leadership pledged to promote domestic demand and urbanization with wider policy support for economic recovery. China relies heavily on coal for power generation. ANR +10.6%, ACI +7.7%, WLT +6.7%, CNX +5%, BTU +4.7%. KOL +2.9%.
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  • Nov. 30, 2012, 2:15 PM
    Walter Energy's (WLT +7.3) refusal to comment on rumors of BHP's interest in an acquisition keeps shares moving higher, perhaps suggesting more than idle chatter. Also, another analyst sees the coal industry improving in 2013. The two developments are propping up the sector (KOL +0.5): JRCC +7.6%, OXF +4.2%, ANR +3.4%, ACI +2%, BTU +0.9%.
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  • Nov. 21, 2012, 10:42 AM
    The U.S. may be moving away from coal but the rest of the world isn't, with ~1,200 coal plants on the drawing board, the World Resources Institute reports. Many of the proposed new plants are in China and India, and a growing number are being proposed for developing countries such as Cambodia, Guatemala and Uzbekistan, nations looking for cut-rate sources of energy to fuel economic growth.
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  • Nov. 21, 2012, 4:12 AM
    Japan's Kansai Electric Power and Kyushu Electric Power agree to acquire 1M tons of low-sulphur high quality U.S. coal from Oxbow Carbon in a one-year deal. The contract comes as Japan's nuclear reactors remain closed following last year's Fukushima disaster. The prospect of selling more coal to Japan could boost the U.S.'s beleaguered coal sector, with stocks that might be worth watching today including BTU, ACI, RNO, OXF, JRCC, CNX, WLT, ANR, WLB and PCXCQ.PK.
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PKOL Description
The PowerShares Global Coal Portfolio (Fund) is based on the NASDAQ OMX Global Coal IndexSM (Index). The Fund will normally invest at least 90% of its total assets in securities that comprise the Index and ADRs and GDRs based on the securities in the Index. The Index is designed to measure the overall performance of globally traded securities of the largest and most liquid companies involved in the exploration for, and mining of coal, as well as other related activities in the coal industry. The Index is rebalanced quarterly using a modified, market-cap-weighted methodology.
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