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AdvisorShares DIVI ETF will definitely close

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Exchange traded fund sponsor AdvisorShares is to close the AdvisorShares Athena High Dividend ETF (DIVI) after all.

The company temporarily reversed its decision to close the fund but has now confirmed that it has reverted to the original closure plan.
 
The fund will therefore sell its equity positions on 31 March 2017, and the last day of trading will be 3 April 2017, which will also be the final day for creations or redemptions by authorised participants.
 
The fund will cease operations, withdraw its assets, and distribute the remaining proceeds to shareholders on or after 7 April 2017.
 
"While we temporarily reversed our original intention to close DIVI, we have ultimately elected to close the ETF," says Noah Hamman, chief executive officer of AdvisorShares.

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