» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 128 | NO. 146 | Monday, July 29, 2013

Company Creates Nashville Exchange-Traded Fund

AP

Print | Front Page | Email this story | Comments ()

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 This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 152 543 12,121
MORTGAGES 153 577 14,093
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 161 1,030 25,418
BANKRUPTCIES 43 288 8,160
BUSINESS LICENSES 27 159 4,113
UTILITY CONNECTIONS 136 387 8,962
MARRIAGE LICENSES 22 90 3,006

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.