This ETF Buys Into Its Own Idea
August 16, 2008 at 04:00 AM EDT
Exchange traded funds (ETFs) have given rise to a variety of unique funds, and one of them is one that buys into itself - literally. The PowerShares Buyback Achievers Portfolio Fund (PKW) holds a basket of companies that invest in themselves. It tracks the BuyBack Achievers Index, which is made up of about 254 [...]