AdvisorShares Rebrands HDGE and Takes Portfolio Management In-House

Advisorshares Ranger Equity Bear ETF (HDGE) will become the AdvisorShares Active Bear ETF after August 31, with Ranger Alternative Management departing as sub-advisor and AdvisorShares assuming day-to-day management under Dan Ahrens. HDGE will continue using a model focused on shorting U.S. stocks showing weak earnings quality, aggressive accounting or deteriorating fundamentals. Effective November 1, the fund will eliminate its formal policy requiring at least 80% of assets in short equity positions, although it still expects short equities to remain its primary exposure.