POWERSHARES ETF TRUST

CUSIP: 73935X302 Class: COM

Arrow Investment Advisors, LLC's Holding History (CIK: 0001378410)

Note: Option positions (PUT/CALL) are excluded.

Q1 2017
Shares 1,366,908 Value ($000) $23,333 Avg Close — Range —
Q4 2016
Shares 1,467,957 Value ($000) $24,853 Avg Close — Range —
Q3 2016
Shares 1,586,735 Value ($000) $25,197 Avg Close — Range —
Q2 2016
Shares 1,709,850 Value ($000) $26,588 Avg Close — Range —
Q1 2016
Shares 1,793,762 Value ($000) $25,597 Avg Close — Range —
Q4 2015
Shares 1,702,518 Value ($000) $22,729 Avg Close — Range —
Q1 2015
Shares 1,812,141 Value ($000) $24,283 Avg Close — Range —
Q4 2014
Shares 1,744,780 Value ($000) $23,555 Avg Close — Range —