POWERSHARES ETF TR II

CUSIP: 73937B779 Class: ETF

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

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

Q2 2016

Shares 601,063 Value ($000) $25,719 Avg Close — Range —

Q1 2016

Shares 630,573 Value ($000) $25,431 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2016	601,063	$25,719	—	—
Q1 2016	630,573	$25,431	—	—