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AdvisorShares Active Bear fund to be first ETF to trade on CBOE
By Susanna Moon
Chicago, Sept. 23 - AdvisorShares said the AdvisorShares Active Bear ETF is now listed for trading on the Chicago Board Options Exchange.
The fund (NYSE: HDGE) is the first equity-based actively managed exchange-trade fund to meet CBOE's listing requirements, according to a press release.
Among the requirements for listing on the exchange is "distribution," the release noted. There must be a certain number of outstanding shares, and the shares must be owned by a minimum number of people. Otherwise, ownership of the security is deemed "too highly concentrated."
AdvisorShares is a provider of actively managed ETFs and is based in Bethesda, Md.
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