PowerShares Dynamic Retail ETF Finds Bargains in Discount Retailers

Don Dion submits:
Despite an extended economic slowdown and poor consumer spending numbers, PowerShares Dynamic Retail Portfolio ETF (PMR) gained momentum over the summer. While some analysts believe that the worst is yet to come for retail, an increasing number of investors believe that some retailers are oversold and that these names are now at bargain prices. While much of the retail news remains gloomy, PMR’s year-to-date returns are in positive territory—up 1.21% year to date as of August 27 in the midst of a difficult economy. PMR remained stagnant in our Sector Momentum Rankings for much of June and July but has made significant gains in recent weeks, jumping in our rankings from No. 32 on July 30 to the No. 14 position on August 27. PMR’s returns have made significant gains during the last month, due to a combination of portfolio composition, sector news and timing that boosted the fund 5.59% for the month ending August 27.Complete Story »