- AdvisorShares is dropping TrimTabs as sub-advisor for the AdvisorShares TrimTabs Float Shrink ETF (NYSEARCA:TTFS), replacing with Wilshire Associates, effective July 1.
- TrimTabs uses a rules-based formula to rank stocks by buybacks, debt, and cash flow. Wilshire has a new quantitative process screening for reduction of shares, free cash flow, and no increase to leverage. The fund's management fee will slip to 0.9% from 0.99%.
- TTFS has done will, with a five-star rating from Morningstar and outperformance over the S&P 500 by 100 basis points annually over the past three years.
- TrimTabs founder Charles Biederman isn't pleased, noting shareholders will now have to accept a different strategy than what they thought they originally purchased.
- Buyback ETFs: PKW, SYLD, TTFS, SPYB