ETF Watch: AdvisorShares To Close More Funds

AdvisorShares has announced it will be shutting down another two of its funds by the end of June. The AdvisorShares Market Adaptive Unconstrained Income ETF (MAUI) and the AdvisorShares QAM Equity Hedge ETF (QEH) will see their last day of trading on June 23.

MAUI launched in 2014 offering an unconstrained bond strategy, while QEH rolled out in 2012 with a long/short equity strategy. Both actively managed funds failed to gather significant assets.

AdvisorShares has been on a bit of tear lately, apparently cleaning house. Currently, including the two funds set to close, it offers 19 ETFs. Earlier this year, it shut down three of its funds:

• AdvisorShares Morgan Creek Global Tactical ETF (GTAA)
• AdvisorShares Global Echo ETF (GIVE)
• AdvisorShares Athena High Dividend ETF (DIVI)

With the closures of MAUI and QEH pending, AdvisorShares is set to have shut down five ETFs by the end of the first half of 2017. So far this year, nearly 35 U.S.-listed ETFs have closed, which puts 2017 roughly on pace with 2016.

Contact Heather Bell at [email protected].