The nation’s first city-based investment fund launched this week.
The fund, launched by Nashville-based LocalShares, started trading under the symbol NASH on Aug. 1 with an initial sales price of $25 per share. By the end of the first day of trading, the price stood at $25.42.
After the first day of trading, the fund had total investments of $2.53 million. LocalShares has now posted a full breakdown of the fund holdings.
The exchange-traded fund, an investment model where securities and assets are traded like stocks usually based on an index, will allow investment in a portfolio of Nashville public companies. Qualified companies must be based in Nashville, traded on an exchange, have a minimum of $100 million in market capitalization and at least 50,000 shares traded daily.
More than two dozen such companies operate in Nashville, including retailers Dollar General and Tractor Supply Co. and hospital heavyweight HCA Holdings Inc.
For more on this fund from the company’s founders, check out Sunday’s Tennessean Business section.
