BETHESDA, Md., July 25, 2012 /PRNewswire/ -- AdvisorShares, a leading sponsor of actively managed Exchange Traded Funds (ETFs), announced today that the AdvisorShares Dent Tactical ETF (NYSE: DENT) will be closed rather than reorganize into the AdvisorShares Meidell Tactical Advantage ETF (NYSE: MATH) in a measure aimed to benefit shareholders. The AdvisorShares Board of Trustees approved the closing and subsequent liquidation of DENT, and following its last day of trading on August 8, 2012, the ETF will cease operations, withdraw its assets, and distribute the remaining proceeds to shareholders on or after August 15, 2012.
Noah Hamman, CEO of AdvisorShares, said, "We determined it was in the best interest of the shareholders to close DENT due to the amount of time required for the merger and its associated costs."
For media inquiries requesting more information on AdvisorShares, please contact Ryan Graham at 202-684-6442 or firstname.lastname@example.org. For financial professionals and investors requesting more information, please visit www.advisorshares.com or call the AdvisorShares Investment Consultant Team at 1-877-THE-ETF1 (1-877-843-3831).
AdvisorShares is one of the leading providers of actively managed ETFs. As of 7/24/2012 AdvisorShares offers 15 active ETFs with approximately $650,000,000 of assets under management.
AdvisorShares provides educational support to help investors understand ETFs, and the underlying investment strategy for each of the AdvisorShares ETFs. AdvisorShares continues to seek qualified sub-advisor investment partners to offer compelling investment strategies in an active ETF structure. Visit our website at www.advisorshares.com to learn more about us. Follow the AdvisorShares Team on Twitter or 'Like' us on Facebook.
Before investing you should carefully consider the Fund's investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by visiting the Fund's website at www.AdvisorShares.com. Please read the prospectus carefully before you invest.
There is no guarantee that the Fund will achieve its investment objective. An investment in the Fund is subject to risk, including the possible loss of principal amount invested. Other Fund risks include market risk, asset allocation risk, early closing risk, liquidity risk and trading risk. The Fund is also subject to the risks associated with the underlying ETFs' or ETPs' investments, including the possibility that the value of the underlying securities will decrease. The Fund may not be suitable for all investors.
Press Contact: Ryan Graham