Active exchange-traded fund provider AdvisorShares is closing the AdvisorShares Rockledge SectorSAM ETF (SSAM) on June 21. The fund investing primarily in both long and short positions in U.S. sector ETFs.

The fund was launched in January 2012 and managed just over $1 million as of June 6. SSAM is managed by Rockledge Advisors.

Noah Hamman, chief executive officer of AdvisorShares, said: "After consulting with the Rockledge team, we determined that it was in the best interest of shareholders to close SSAM due to its performance and associated costs."

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