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VOL. 128 | NO. 146 | Monday, July 29, 2013

Company Creates Nashville Exchange-Traded Fund

AP

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NASHVILLE (AP) – A Nashville company has developed the nation's first city-based exchange-traded fund that follows an index of companies based in Nashville and the surrounding counties.

LocalShares Inc. on Friday announced plans to begin trading on the New York Stock Exchange on Aug. 1. It will use the ticker symbol NASH. Shares will initially be priced at $25 and will be available through any securities broker.

The Nashville Area ETF tracks an index that initially will consist of about 24 companies, including HCA, Dollar General and Corrections Corporation of America.

Bob Goldsborough is a fund analyst with Morningstar. He said the Nashville Area ETF is a niche fund without a lot of obvious investors outside of Middle Tennessee. But on the positive side, the companies included in the index are very diverse.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 98 376 10,434
MORTGAGES 124 449 13,881
FORECLOSURE NOTICES 14 56 2,766
BUILDING PERMITS 196 798 23,420
BANKRUPTCIES 68 264 8,803
BUSINESS LICENSES 24 77 3,613
UTILITY CONNECTIONS 251 637 13,380
MARRIAGE LICENSES 21 93 3,117

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