PowerShares has announced that it will shutter 10 of its exchange traded funds (ETFs). The last day of trading for the funds will be Dec. 14.
The closing funds are:
- PowerShares Dynamic Healthcare Services Portfolio (NYSEArca: PTJ)
- PowerShares Dynamic Telecommunications & Wireless Portfolio (NYSEArca: PTE)
- PowerShares FTSE NASDAQ Small Cap Portfolio (NYSEArca: PQSC)
- PowerShares FTSE RAFI Europe Portfolio (NYSEArca: PEF)
- PowerShares FTSE RAFI Japan Portfolio (NYSEArca: PJO)
- PowerShares Global Biotech Portfolio ( PBTQ )
- PowerShares Global Progressive Transportation Portfolio ( PTRP )
- PowerShares NASDAQ-100 BuyWrite Portfolio ( PQBW )
- PowerShares NXQ Portfolio ( PNXQ )
- PowerShares Zacks Small Cap Portfolio (NYSEArca: PZJ)
The ETFs are around 1% of PowerShares' total assets under management. "We regularly review portfolios carefully evaluating numerous factors such as investment results, length of time in the market, investor interest, and the potential for future growth," said Ben Fulton, managing director of global ETFs. [ The ETF Supermarket Has Arrived. ]
If you're curious about the ETF closing process, you can read more about it here .
Tisha Guerrero contributed to this article.