AdvisorShares Trust To Change The Name Of The Active Bear ETF (HDGE)
AdvisorShares Trust has filed paperwork indicating that they will begin trading their Active Bear ETF (NYSEARCA:HDGE). The new name of the fund will be the Ranger Equity Bear ETF. According to the filing the fund will begin trading under the new name at the opening of business on October 29, 2012. No changes to the Issue CUSIP, symbol or index.
The investment objective of the Active Bear ETF (NYSEArca:HDGE) is capital appreciation through short sales of domestically traded equity securities. The HDGE portfolio is sub-advised by Ranger Alternative Management, L.P. The portfolio management team implements a bottom-up, fundamental, research driven security selection process.
In selecting short positions, the Fund seeks to identify securities with low earnings quality or aggressive accounting which may be intended on the part of company management to mask operational deterioration and bolster the reported earnings per share over a short time period. In addition, the portfolio management team seeks to identify earnings driven events that may act as a catalyst to the price decline of a security, such as downwards earnings revisions or reduced forward guidance.