Don't look now, but five more active ETFs are about to hit the marketplace. In the Wall Street Journal's "Investing in Funds: A Quarterly Analysis" report, Daisy Maxey reports that Grail Advisors plans to launch its second active ETF this month, followed by four more by September.

Maxey notes that Grail and Invesco's PowerShares have both already launched active ETFs, while Claymore, Pimco, State Street and Vanguard are all looking into it. 

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