Invesco PowerShares Releases Biotech ETF

Invesco PowerShares Capital Management LLC, announced the PowerShares Global Biotech Portfolio will begin trading Thursday, on the Nasdaq Stock Market.

The PowerShares Global Biotech Portfolio (PBTQ) is based on the NASDAQ OMX Global Biotech Index.

The Index is designed to measure the overall performance of globally traded securities of the largest and most liquid companies involved in the biotechnology industry. The Index is rebalanced quarterly using a modified market capitalization-weighting methodology, according to a news release.

“The biotech industry’s revenue base and product pipeline has grown significantly over the last two decades as some of the most important advances in health science have come to market,” said Bruce Bond, president and CEO of Invesco PowerShares, in the news release. “We believe the PowerShares Global Biotech ETF will provide investors a transparent, tax efficient way to access a global portfolio of the largest and most liquid biotechnology companies in the world.”