TrimTabs, which previously served as the sub-advisor for the AdvisorShares TrimTabs Float Shrink ETF (NYSEArca: TTFS), has filed plans with the Securities and Exchange Commission (SEC) to possibly launch its own version of that ETF after parting ways with AdvisorShares.
Last month, AdvisorShares said effective July 1, Wilshire Associates will serve as the sub-advisor for TTFS and the ETF will be renamed the AdvisorShares Wilshire Buyback ETF. “TTFS” will remain the ticker.
Related: Changes for the Float Shrink ETF
“The ETF will be managed day-to-day by Wilshire’s global investment management business unit, Wilshire Funds Management, which advises on approximately $150 billion,” according to a statement issued by AdvisorShares.[related_stories]
“TrimTabs newest filing for the TrimTabs Float Shrink ETF will similarly track a quantitative index that selects companies that have a diminishing share count. Theodore “Ted” Theodore will continue to serve as portfolio manager, according to the filing,” reports Chris Dieterich for Barron’s.
TrimTabs founder Charles Biderman told Barron’s his firm started planning for its own ETF as soon as it learned it was parting ways with AdvisorShares.
California-based TrimTabs also issues the TrimTabs International Free-Cash-Flow ETF (NYSEArca: FCFI).
FCFI tracks the TrimTabs Intl Free-Cash-Flow Index, which holds international companies with the highest free cash flow yield. Free cash flow yield is calculated by dividing the amount of free cash per share a company generates by its share price.
For more information on stock buybacks, visit our buyback ETFs category.