This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

PowerShares to Mind QQQs

PowerShares Capital Management has been one of the big success stories in the ETF space, and the company continues to impress.

The latest example came Thursday, when the Illinois-based firm, a division of Amvescap (AVZ), announced plans to take over sponsorship of the Nasdaq 100 Trust (QQQQ) -- the most actively traded exchange-traded fund on the market -- in addition to five other ETFs from Nasdaq Global Funds.

Adding the products to the PowerShares roster will not only give a major boost to the company's reputation -- in one fell swoop, the deal is expected to expand PowerShares' assets more than threefold.

"For as many great products as we have, this really gives us some visibility within the marketplace and credibility as a major ETF provider," says PowerShares President Bruce Bond. "To have the most-traded security in the world be a PowerShares is an important thing."

PowerShares is currently the No. 2 company in terms of ETFs on the market. But with about $7.5 billion in assets, it has had to play catch-up with companies such as Barclays Global Investors, State Street Global Advisors and Vanguard Group, all of which have more assets under management.

The company has so far done a solid job, but with this deal, catching up to the big players will get easier.

If the transaction closes -- it requires approval from regulatory agencies -- PowerShares' assets will jump by more than $19 billion to about $26.5 billion. (That's not accounting for normal asset growth.)

The companies are not disclosing the financial terms of the deal.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,265.99 +109.14 0.64%
S&P 500 2,011.36 +9.79 0.49%
NASDAQ 4,593.4250 +31.2360 0.68%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs