Executives of Bethesda, Maryland-based ETF shop AdvisorShares [see profile]
and El Segundo, California-based asset manager Cambria Investment Management
trooped to Manhattan this morning to ring the opening bell at the New York Stock Exchange. The executives are celebrating the growth of the AdvisorShares Cambria Global Tactical ETF
, which was launched last October and
now counts $170 million of AUM.
The ETF is the largest among AdvisorShares' six ETFs. The six have a total of $292 million of assets.
AdvisorShares CEO Noah Hamman
, Cambria Investment Management CEO Eric Richardson
and Cambria CIO
were among those in attendance at the bell ringing ceremony.
Hamman told The MFWire.com
that his firm is planning to launch three ETFs sub-advised by Madrona Funds
in the next few weeks.
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