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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 This material may not be published, broadcast, rewritten or redistributed.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 58 58 15,010
MORTGAGES 85 85 19,005
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 100 100 32,316
BANKRUPTCIES 59 59 11,205
BUSINESS LICENSES 24 24 4,835
UTILITY CONNECTIONS 0 0 18,230
MARRIAGE LICENSES 42 42 4,028

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