AdvisorShares Trust - AdvisorShares Ranger Equity Bear ETF

AdvisorShares Trust - AdvisorShares Ranger Equity Bear ETF is an exchange traded fund launched and managed by AdvisorShares Investments, LLC. It is co-managed by Ranger Alternative Management, L.P. The fund invests in public equity markets of the United States. It invests directly and through other funds in stocks of companies operating across diversified sectors. The fund employs short strategy to create its portfolio. It invests in growth and value stocks of companies across diversified market capitalization. It employs fundamental and quantitative analysis with bottom-up stock picking approach to create its portfolio. The fund seeks to benchmark the performance of its portfolio against the S&P 500 Index. AdvisorShares Trust - AdvisorShares Ranger Equity Bear ETF was formed on January 26, 2011 and is domiciled in the United States.