PowerShares® Launches PowerShares DWA Technical Leaders Portfolio ETF To Track The Dorsey Wright Technical Leaders Index On The NYSE - 2nd PowerShares ETF Listing On The NYSE - First ETF Based On Tools Used In Technical Analysis

The New York Stock Exchange announced the PowerShares DWA Technical Leaders™ Portfolio listed on the NYSE and began trading under the ticker symbol PDP.  Tracking the performance of approximately 100 U.S.-listed securities, the new ETF offered by PowerShares is the first ETF based on technical analysis pioneered in the Dorsey Wright Technical Leaders™ Index. 

The modified equal-dollar weight index is comprised of approximately 100 U.S. companies from a broad universe of large-cap and mid-cap stocks and is based on the proprietary selection process of Dorsey, Wright & Associates. Each company is selected based on its relative strength characteristics and other factors utilizing a proprietary algorithm.

“A primary feature of the Dorsey Wright Technical LeadersIndex is that it will adapt over time to changes in market leadership, whether those leadership changes are based upon market capitalization, style, industry sector, or other factors,” said Tom Dorsey, President of Dorsey, Wright & Associates, Inc. “Numerous studies have demonstrated that relative strength is an extremely powerful and robust stock selection methodology. Relative strength is unique in that it does not rely on a company’s financial information, which can easily be manipulated by management.”

“PowerShares is pleased to be back at the New York Stock Exchange and to be allied with Dorsey, Wright & Associates, a leading provider of technical research to brokerage firms and investment professionals. We believe the PowerShares DWA Technical Leaders ETF will be an efficient vehicle for advisors and investors to implement Dorsey Wright’s venerable research into their portfolios,” said Bruce Bond, President of PowerShares Capital Management LLC. 

“Today’s listing of the first ETF based upon technical analysis demonstrates the creativity and range of investment ideas available to investors,” said Senior Vice President, Exchange Traded Funds and Indexes, Lisa Dallmer. “We are very happy to welcome back PowerShares, continuing our partnership and reaffirming NYSE Group’s standing as the world’s premier venue for ETF listings and trading to issuers.”

The addition of PowerShares DWA Technical Leaders Portfolio brings the total number of primary ETF listings to 166 on NYSE Group.  In 2006, NYSE Group handled over 43% of all ETF shares traded in the U.S. market.  As the largest exchange for ETF trading, NYSE Group is committed to offering investors the most innovative new investment options with superior pricing and market quality.