SPDR, PowerShares Settle Ticker Dispute
Invesco PowerShares and the Select Sector SPDRs have come to an agreement in a dispute over the use of similar tickers, with PowerShares voluntarily changing the symbols for its nine S&P SmallCap Sector ETFs. In April 2010 PowerShares launched a series of sector-specific funds focusing on small cap stocks. While the Select Sector SPDRs focus on large cap stocks, the PowerShares small suite carves up the S&P SmallCap 600 Index into nine major sectors (there are some other differences between the funds as well, such as the treatment of telecom stocks). The ticker symbols for the suite of products were similar to the established Sector SPDRs; the letter “S” was added to the tickers for the Select Sector SPDRs (the small cap financials ETF, for example, is XLFS, while the Select Sector Financial SPDR is XLF). The Select Sector SPDRs were launched in late 1998. A few months after the launch of [...] Click here to read the original article on ETFdb.com. Related Posts: April ETF Roundup: Launches, Filings, and Closures PowerShares Launches Nine Small Cap Sector ETFs Three ETFs To Watch This Week: RTH, SWH, XLUS Three ETFs To Watch This Week: EWA, IVV, XLPS Thursday’s ETF To Watch: XLUS
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