| UNITED STATES |
| SECURITIES AND EXCHANGE COMMISSION |
| Washington, D.C. 20549 |
| SCHEDULE 13G |
| Under the Securities Exchange Act of 1934
Amendment No(1.)* |
| Powershares ETF Trust Dynamic Healthcare Sector Portfolio
(Name of Issuer) |
| Exchange Traded Fund
(Title of Class of Securities) |
| 73935X351
(CUSIP Number) |
| 5/31/07
(Date of Event Which Requires Filing of this Statement) |
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
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[X ] |
Rule 13d-1(b) |
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Rule 13d-1(c) |
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[ ] |
Rule 13d-1(d) |
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CUSIP No. 769667106 |
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1. |
Names of Reporting Persons. Wachovia Corporation 56-0898180 (Formerly named First Union Corporation) |
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2. |
Check the Appropriate Box if a Member of a Group (See Instructions) |
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(a) |
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(b) |
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3. |
SEC Use Only |
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4. |
Citizenship or Place of Organization North Carolina |
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Number of |
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5. |
Sole Voting Power 1346515 |
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6. |
Shared Voting Power 0 |
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7. |
Sole Dispositive Power 1341106 |
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8. |
Shared Dispositive Power 0 |
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9. |
Aggregate Amount Beneficially Owned by Each Reporting Person. 1346515 |
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10. |
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) Not Applicable. |
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11. |
Percent of Class Represented by Amount in Row (11) 58.54% |
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12. |
Type of Reporting Person (See Instructions) Parent Holding Company (HC) |
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Item 1. |
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(a) |
Name of Issuer Powershares ETF Trust Dynamic Healthcare Sector Portfolio |
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(b) |
Address of Issuer's Principal
Executive Offices
Wheaton Oaks Professional Building 855 West Prairie Avenue Wheaton, IL 60187 |
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Item 2. |
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(a) |
Name of Person Filing Wachovia Corporation |
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(b) |
Address of Principal Business Office or, if none, Residence One Wachovia Center Charlotte, North Carolina 28288-0137 |
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(c) |
Citizenship North Carolina |
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(d) |
Title of Class of Securities Common Stock |
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(e) |
CUSIP Number 929903102 |
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Item 3. |
If this statement is filed pursuant to sections 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: |
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(a) |
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Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). |
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(b) |
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Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). |
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(c) |
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Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). |
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(d) |
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Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8). |
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(e) |
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An investment adviser in accordance with section 240.13d-1(b)(1)(ii)(E); |
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(f) |
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An employee benefit plan or endowment fund in accordance with section 240.13d-1(b)(1)(ii)(F); |
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(g) |
[X ] |
A parent holding company or control person in accordance with section 240.13d-1(b)(1)(ii)(G); |
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(h) |
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A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); |
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(i) |
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A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); |
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(j) |
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Group, in accordance with section 240.13d-1(b)(1)(ii)(J). |
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Item 4. |
Ownership. |
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Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. |
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(a) |
Amount beneficially owned: 1346515 |
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(b) |
Percent of class: 58.54 . |
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(c) |
Number of shares as to which the person has: |
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(i) |
Sole power to vote or to direct the vote 1346515 . |
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(ii) |
Shared power to vote or to direct the vote 0 . |
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(iii) |
Sole power to dispose or to direct the disposition of 1341106 . |
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(iv) |
Shared power to dispose or to direct the disposition of 0 . |
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Item 5. |
Ownership of Five Percent or Less of a Class |
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If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following []. |
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Item 6. |
Ownership of More than Five Percent on Behalf of Another Person. |
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Not Applicable. |
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Item 7. |
Identification and classification of the subsidiary which acquired the security being reported on by the parent holding company. |
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Wachovia Corporation is filing this schedule pursuant to Rule 13d-1(b)(1)(ii)(G) as indicated under Item 3(g). The relevant subsidiaries are Wachovia Securities Financial Network, LLC (BD), Wachovia Securities, LLC (IA) and Wachovia Bank, N.A. (BK). Wachovia Securities Financial Network, LLC and Wachovia Securities, LLC are investment advisors for clients; the securities reported by these subsidiaries are beneficially owned by such clients. The other Wachovia entity listed above holds the securities reported in a fiduciary capacity for its respective customers. |
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Item 8. |
Identification and Classification of Members of the Group |
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Not Applicable. |
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Item 9. |
Notice of Dissolution of Group |
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Not Applicable. |
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Item 10. |
Certification |
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(a) |
The following certification shall be included if the statement is filed pursuant to section 240.13d-1(b): By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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June 8, 2007
Signature Karen F. Knudtsen Vice President and Trust Officer Name/Title |