BETHESDA, Md., May 1, 2017 /PRNewswire/ -- AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), announced today that the AdvisorShares Global Echo ETF (NYSE Arca: GIVE) and the AdvisorShares Morgan Creek Global Tactical ETF (NYSE Arca: GTAA) will close. The AdvisorShares Board of Trustees approved the closing and subsequent liquidation of GIVE and GTAA. The last day of trading for both funds will be May 12, 2017, which will also be the final day for creations or redemptions by authorized participants. The funds will cease operations, withdraw their assets, and distribute the remaining proceeds to shareholders on or after May 19, 2017.
"We appreciate the support of Morgan Creek in managing GTAA, along with the challenge of assuming its prior track record," said Noah Hamman, chief executive officer of AdvisorShares. "GIVE became the first impact investment actively managed ETF and represented an important part of the culture of our firm. However, even with its closing, we will continue to make charitable and impactful donations on behalf of AdvisorShares."
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).
A leading provider in the actively managed ETF marketplace, AdvisorShares offers 21 active ETFs with $1.1 billion of assets under management (as of April 28, 2017). Visit www.advisorshares.com to register for free weekly economic commentary. For educational insight into the active ETF marketplace, visit www.alphabaskets.com, follow @AdvisorShares on Twitter and 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.
An investment in ETFs is subject to risk, including the possible loss of principal amount invested. The risks associated with each Fund include the risks associated with the underlying ETFs, which can result in higher volatility, and are detailed in each Fund's prospectus and on each Fund's webpage. The Funds may not be suitable for all investors.
Media contact: Ryan Graham, AdvisorShares, 202-684-6442, email@example.com
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