LocalShares To Begin Trading The Nashville Area ETF (NYSEArca:NASH)

newetf1LocalShares has announced that they will begin trading the Nashville Area ETF (NYSEArca:NASH) Thursday, August 01, 2013. The Nashville Area ETF (the “Fund”) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the LocalShares Nashville Index.

Total Annual Operating Expenses After Fee Waiver: 0.49%

Principal Investment Strategies of the Fund

The Fund normally invests at least 90% of its total assets (exclusive of collateral held from securities lending) in securities that comprise the LocalShares Nashville Index. The LocalShares Nashville Index is comprised of publicly traded U.S. companies that have corporate headquarters in the Nashville, Tennessee region and that meet certain requirements regarding capitalization and trading volume. More specifically, the eligibility requirements for inclusion within the LocalShares Nashville Index are:

  1. Listing on the NYSE, AMEX or NASDAQ Global Market;
  2. Corporate headquarters based in the Nashville, Tennessee region, which is defined as Davidson county (the county where Nashville is located) and all counties contiguous to Davidson county (i.e., Robertson, Sumner, Wilson, Rutherford, Williamson, and Cheatham counties);
  3. Market capitalization of at least $100 million during the 25 days preceding the initial inclusion date (the “Screening Date”); and
  4. Average daily volume of stock traded exceeding 50,000 shares for the preceding three months.

The LocalShares Nashville Index is

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