Taking A Closer Look At The Ranger Equity Bear ETF HDGE
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Wed, Jan. 8, 2:41 PM
- State Street Global Advisors, the industry giant behind popular SPDR funds such as SPY and GLD, will laund the SPDR MFS Systematic Core Equity ETF (SYE), Growth Equity ETF (SYG), and Value Equity ETF (SYV) on January 9th.
- Each employing different size and style specific strategies, these new funds will appeal to investors looking for capital appreciation and agility in the markets.
- The addition of 3 active ETFs is a large step for State Street, as there are currently only 5 ETFs in their portfolio that employ an active strategy: GAL, RLY, INKM, ULST, SRLN
- Other actively managed equity ETFs: SYLD, TTFS, HDGE, IELG, FWDD, ACCU, FWDI, HUSE, RWG, ONEF, IESM, GVT, RPX
Nov. 14, 2013, 3:20 PM
- The Adivsor Shares ETF, HDGE, which seeks capital appreciation through short sales of U.S. equities, is placing a bet on the decline of Harley Davidson (HOG).
- The actively managed fund is citing the build up of inventories in dealerships, tapering of motorcycle registrations, and premium price of Harley motorcycles as solid signals for an approaching price decline.
- Current top short positions in HDGE's actively managed portfolio include Caterpillar CAT, Consolidated Communications CNSL, and Tempur Sealy International TPX.
- Other alternative strategy ETFs: HDGI, SH, RWM, DOG
Sep. 12, 2013, 12:41 PM
- 3D printer makers 3D Systems (DDD -3.8%), Stratasys (SSYS -4.5%), and ExOne (XONE -10.5%) are all continuing their September selloffs today. ExOne, fresh off pricing a 2.7M-share stock offering, is now down 20% since Sep. 5. Stratasys, which announced a 4M-share offering on Monday, is down more than 10% over the same time.
- The Ranger Equity Bear ETF (HDGE) has taken a short position in 3D Systems. Among other things, the fund's managers are critical of 3D's valuation (10x and 112x trailing revenue and EPS) and a lengthening cash conversion cycle (up 24 days in Q2 to 107 days).
- The Nasdaq's latest short interest data indicates all 3 names remain well-shorted. 29.4% of 3D Systems' float was shorted as of Aug. 30. For Stratasys, the figure is 10%, and for ExOne it's 27.6%.
Jan. 31, 2013, 3:23 PMExchange Traded Concepts rolled out its latest ETF FLAG, an equities fund that relies on forensic accounting to pick stocks based on the quality of their earnings. FLAG comes with an expense ratio of 0.85%. Forensic accountant John Del Vecchio is behind the Del Vecchio Earnings Quality Index tracked by the ETF and is also the portfolio manager for HDGE. | Comment!
Dec. 26, 2012, 7:59 AMA bear fund manager covers his big short in Herbalife. Too far too fast, says Ranger Equity Bear ETF (HDGE) portfolio manager Brad Lamensdorf, who notes the issues raised by Bill Ackman are nothing new. Lamensdorf returns his focus to what he calls a "target rich" short environment. HLF -0.2% premarket. | 2 Comments
HDGE vs. ETF Alternatives
The investment objective of the Ranger Equity Bear ETF (HDGE) is capital appreciation through short sales of domestically traded equity securities. The HDGE portfolio is sub-advised by Ranger Alternative Management, L.P. The portfolio management team implements a bottom-up, fundamental, research driven security selection process. In selecting short positions, the Fund seeks to identify securities with low earnings quality or aggressive accounting which may be intended on the part of company management to mask operational deterioration and bolster the reported earnings per share over a short time period. In addition, the portfolio management team seeks to identify earnings driven events that may act as a catalyst to the price decline of a security, such as downwards earnings revisions or reduced forward guidance.
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