AdvisorShares Dorsey Wright Alpha Equal Weight ETF
DWEQ
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- AdvisorShares Dorsey Wright Alpha Equal Weight ETF (DWEQ) is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing in a concentrated portfolio of 40-50 U.S. large-cap equity securities selected from the largest 1,000 U.S. stocks by market capitalization; the fund employs a proprietary U.S. Equal Weight Model developed by Nasdaq Dorsey Wright, which ranks industry sectors by relative strength and then selects individual securities from the top three sectors based on relative strength signals, buy signals, and rising price momentum, with equal weighting and monthly rebalancing. The strategy focuses exclusively on market price movements and relative strength without incorporating company fundamentals; it may also invest in repurchase agreements for liquidity. AdvisorShares Investments, LLC serves as the investment adviser, with Nasdaq Dorsey Wright providing the quantitative model since the fund's inception in late 2020, headquartered in Greenwood Village, Colorado. The fund targets institutional and retail investors seeking momentum-driven U.S. equity exposure with a core philosophy of buying securities outperforming their peers and holding until relative underperformance; it operates in the large-cap growth and blend segments of the equity market, primarily within the United States. In March 2023, AdvisorShares Investments announced the liquidation of the fund at the recommendation of the adviser, with the last trading day on Nasdaq on March 31, 2023, and final cash distributions to remaining shareholders on or about April 10, 2023, following a plan approved by the AdvisorShares Trust Board of Trustees; this closure reflects ongoing portfolio review amid low assets under management, ceasing all operations and secondary market trading thereafter.