In July, we introduced you to manager Focal Point Management and their Quantitative Hedging model. This week, Focal Point Management added PowerShares QQQ Trust Series 1 (QQQQ) to their quantitative model. Since this buy, 100% of the model is invested in QQQQ, a UIT meant to replicate the performance of the Nasdaq-100 index. In order to do this, the underlying assets of the trust are comprised of all the stocks on the index. On the date this post was written, the trust was trading at a slight premium to NAV.
A few weeks ago we discussed Michael Arold and a purchase he made in his Technical Swing model. This week, Arold added ProShares UltraShort Russell 2000 ETF (TWM) to the mix. TWM is designed to mirror by 200% the inverse of the performance of the Russell 2000 index. The assets of the fund are invested in derivatives and money market funds that managers believe will bring about the desired performance. On the date this post was written, the fund was trading at a discount to NAV.
Last week we mentioned a purchase that Stocks for the Week made in their Top Internationals model. This week they added Polypore International Inc (NYSE: PPO) to their model. PPO manufactures, develops and markets specialized membranes that help various separation and filtration processes. They have a global market and have facilities in Asia, North America and Europe. In early August the company announced their second quarter 2010 financial results. During the second quarter, they experienced a 27 percent increase in sales year-over-year. They also increased earnings per share, net income and adjusted operating income. Their total liabilities also fell from $1.0 billion in the prior quarter to $996.1 million during the second quarter.
