BETHESDA, Md., Oct. 13, 2020 /PRNewswire/ -- AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), today announced plans to transfer the listing of the AdvisorShares Vice ETF (Ticker: ACT) from NASDAQ to NYSE Arca effective on or about November 1, 2020. The Fund's ticker symbol will change from ACT to VICE with the transfer listing. Shareholders in this fund will not be required to take any action as a result of this change.
"We look forward to bringing the AdvisorShares Vice ETF to NYSE Arca where most of our actively managed ETFs are listed," said Dan Ahrens, chief operating officer of AdvisorShares and portfolio manager of the Vice ETF. "We also looking forward to introducing an investment strategy change to this fund which will allow us to invest in companies related to gaming activities, including casinos, sports betting, video games and esports. We believe combining gaming with alcohol and tobacco creates a compelling and resilient Vice investment theme. Individuals take pleasure in these types of activities during both good times and bad times, and 2020 is no different."
Investors seeking cannabis investment exposure can invest in the AdvisorShares Pure Cannabis ETF (Ticker: YOLO) and the AdvisorShares Pure US Cannabis ETF (Ticker: MSOS), which are both listed on NYSE Arca.
AdvisorShares is a leading provider of actively managed ETFs. For financial professionals and investors requesting more information, call 1-877-843-3831 or visit www.advisorshares.com. Follow @AdvisorShares on Twitter and Facebook for more insights.
Before investing you should carefully consider the Fund's investment objectives, risks, charges and expenses. This and other information are in the prospectus, a copy of which may be obtained by visiting the Fund's website at www.advisorshares.com. Please read the prospectus and summary prospectus carefully before you invest.
The Fund is subject to a number of risks that may affect the value of its shares. This section provides additional information about the Fund's principal risks. The degree to which a risk applies to the Fund varies according to its investment allocation. Each investor should review the complete description of the principal risks before investing in the Fund. As with investing in other securities whose prices increase and decrease in market value, you may lose money by investing in the Fund.
Cannabis-Related Company Risk. Cannabis-related companies are subject to various laws and regulations that may differ at the state/local and federal level. These laws and regulations may (i) significantly affect a cannabis-related company's ability to secure financing, (ii) impact the market for marijuana industry sales and services, and (iii) set limitations on marijuana use, production, transportation, and storage. Cannabis-related companies may also be required to secure permits and authorizations from government agencies to cultivate or research marijuana. In addition, cannabis-related companies are subject to the risks associated with the greater agricultural industry, including changes to or trends that affect commodity prices, labor costs, weather conditions, and laws and regulations related to environmental protection, health and safety. Cannabis-related companies may also be subject to risks associated with the biotechnology and pharmaceutical industries. These risks include increased government regulation, the use and enforcement of intellectual property rights and patents, technological change and obsolescence, product liability lawsuits, and the risk that research and development may not necessarily lead to commercially successful products.
Companies in the food, beverage and tobacco industry are very competitive and subject to a number of risks. Demographic and product trends, changing consumer preferences, nutritional and health-related concerns, competitive pricing, marketing campaigns, environmental factors, adverse changes in general economic conditions, government regulation, food inspection and processing control, consumer boycotts, risks of product tampering, product liability claims, and the availability and expense of liability insurance can affect the demand for, and success of, such companies' products in the marketplace. For a full summary of the risks please see the prospectus.
Shares are bought and sold at market price not net asset value (NAV) and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receive if you traded at other times.