The AdvisorShares Dent Tactical ETF is to be closed rather than reorganised into the AdvisorShares Meidell Tactical Advantage ETF in a measure aimed to benefit shareholders.

The AdvisorShares board of trustees approved the closing and subsequent liquidation of DENT, and following its last day of trading on 8 August 2012, the ETF will cease operations, withdraw its assets, and distribute the remaining proceeds to shareholders on or after 15 August 2012.

Noah Hamman, chief executive of AdvisorShares, says: "We determined it was in the best interest of the shareholders to close DENT due to the amount of time required for the merger and its associated costs."