LBAY

LBAY is the first ETF from Leatherback Asset Management. The fund will focus on providing monthly distributions to investors. Using a quantitative and fundamental approach, the fund's adviser selects securities they feel offer attractive, sustainable yield through dividends, buybacks or debt reduction. Long positions may include US common stocks, preferred stocks, closed-end funds, REITs, MLPs, BDCs, or YieldCos. Short positions will be established in securities considered overvalued, situations where financial and accounting irregularities appear, or poor governance is discovered. The adviser also has discretion to sell covered calls against individual positions or the entire portfolio if the risk/return premiums appear favorable.