AdvisorShares Peritus High Yield ETF lists options on CBOE
The AdvisorShares Peritus High Yield ETF, the first high yield actively-managed exchange-traded fund, has met listing requirements of the Chicago Board Options Exchange (CBOE) that HYLD options are now listed for trading on the CBOE.
"This marks another exciting advance for actively managed ETFs as investors and financial advisers now have another way to access strategies that can provide ways to insure a portfolio," says Noah Hamman, chief executive of AdvisorShares. "We believe HYLD is at a competitive advantage as its options provide a feature that actively managed mutual funds can't afford, as well as its ability to invest in larger high yield bond tranches than other ETFs. Having HYLD meeting CBOE listing requirements further reinforces the continuing growth and interest by investors in actively managed ETFs."
A security must satisfy CBOE requirements before listing options for its distribution that includes possessing a certain number of outstanding shares, which must be owned by a minimum number of shareholders. Otherwise, ownership of the security is deemed too highly concentrated.
The etfexpress Awards 2013 for the top ETF product and service providers will be held in London towards the end of Q1 2013. Please click here to nominate your product/firm.
- By Category
- News from other sites
- Special Reports
- Partner events