AdvisorShares, one of the largest issuers of actively managed exchange traded funds, said it will close the Accuvest Global Long Short ETF (NYSEArca: AGLS) on Friday Aug. 7.
“The AdvisorShares Board of Trustees approved the closing and subsequent liquidation of AGLS, and following the fund’s last day of trading on August 7, 2015, AGLS will cease operations, withdraw its assets, and distribute the remaining proceeds to shareholders on or after August 14, 2015,” according to a statement issued by AdvisorShares.
The Accuvest Global Long Short ETF had nearly $12.6 million in assets under management as of Aug. 3, according to AdvisorShares data. The ETF sought “to provide average annual returns in excess of the total return of the MSCI World Index,” according to the issuer.
Last week, ProShares said it will close the ProShares UltraShort Telecommunications ETF (NYSEArca: TLL).
Over 30 ETFs have closed this year, but more than quadruple that amount have come to market.
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