ETF Watch: AdvisorShares ETF Doomed After All

Firm reverses its decision on DIVI’s future.

ETF.com
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Reviewed by: etf.com Staff
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Edited by: etf.com Staff

It looks like the reprieve for the AdvisorShares Athena High Dividend ETF (DIVI) will be short-lived. On Thursday, AdvisorShares announced that the actively managed dividend fund will see its last day of trading on April 3, with the proceeds from its portfolio distributed on or after April 7.

On March 13, AdvisorShares had announced the fund would have its last trading day on March 24. It reversed its position about a week ago and said the fund would continue to trade. But now the firm has reversed the reversal and the closure will be happening after all—just a little later than previously planned.

"While we temporarily reversed our original intention to close DIVI, we have ultimately elected to close the ETF," said AdvisorShares CEO Noah Hamman.

Contact Heather Bell at [email protected].

 

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