AdvisorShares, one of the largest issuers of actively manged exchange traded funds, said Wednesday options are available on the newly minted AdvisorShares New Tech and Media ETF (NYSEArca: FNG).

The AdvisorShares New Tech and Media ETF, which debuted in July, will try to generate long-term capital appreciation by investing in technology and media companies, including innovative and fast-growing technologies such as social media companies and internet retail companies. The active ETF will also concentrate its investments in the software and services industry within the information technology sector.

In a statement released after the close of U.S. markets Wednesday, Maryland-based AdvisorShares said FNG “has met listing requirements of the Chicago Board Options Exchange (CBOE) and that FNG options are now listed for trading on the CBOE. Susquehanna Securities, an affiliate of Susquehanna International Group, LLP, will act as specialist.”

The actively managed FNG is managed by David Chojnacki, a portfolio manager at Sabretooth Advisors, which has deep expertise and extensive experience in the ETF and capital markets industries.

“Among the requirements that a security must satisfy is “distribution” before the CBOE will list options on it. 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,” according to the statement.

Related: A Prime Investing Avenue to FANG Stocks

FNG is off to a solid start as highlighted by its $17.7 million in assets under management, an impressive tally for just about a month of trading.

“FNG’s portfolio management team seeks to provide a similar return stream to the performance of technology and media equity leaders as characterized by the FANG stocks acronym, representative of the first letters of Facebook, Amazon, Netflix and Google (now Alphabet), as well as Alibaba often providing an additional ‘A’ to make the ‘FAANG’ acronym,” according to AdvisorShares.

For more information on new fund products, visit our new ETFs category.

Tom Lydon’s clients own shares of Alphabet.

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