ETF Watch: TrimTabs Files For Float-Shrink Fund Clone

June 20, 2016

TrimTabs, the firm that is the manager of AdvisorShares' $162 million TrimTabs Float Shrink ETF (TTFS | C-80), has filed for an ETF under its own exemptive relief that will be essentially identical to TTFS. AdvisorShares recently announced it would be switching managers on TTFS; as of July 1, Wilshire will begin managing the fund, which will be renamed the AdvisorShares Wilshire Buyback Fund.

The filing indicates that, like TTFS, the proposed TrimTabs fund will select its components from the Russell 3000 based on how much they have seen their leverage and free float shrink and their free cash flow grow during the preceding 120-day period. The potential components are ranked via an algorithm based on those three qualities, with the fund's managers selecting the top 80-100 of the highest-ranked stocks.

The filing did not include an expense ratio or ticker. The fund is slated to list on the Bats Exchange, which owns ETF.com

 

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