AdvisorShares restates NAV for bear ETFs HDGE and DWSH after trade error

In the ETF industry, the published NAV per share is the settlement benchmark every transaction prices against. Against that backdrop, AdvisorShares, the Bethesda, Maryland-based fund manager, announced on July 8, 2026 that it is restating the previously disclosed net asset value per share for two of its short-selling funds: the AdvisorShares Ranger Equity Bear ETF (NYSE Arca: HDGE) and the AdvisorShares Dorsey Wright Short ETF (Nasdaq: DWSH). The restatement reflects the correction of a trade error.

Two bear funds, one corrected number

HDGE and DWSH are equity bear products. Their purpose is to move inversely to the market, which means they hold short positions rather than long ones. For investors using these funds as hedges, the accuracy of the daily NAV is not a back-office detail. It is the number that determines how much their position is worth.

AdvisorShares attributed the discrepancy to a trade error. That attribution matters operationally. A trade error sits in execution and settlement; it is distinct from a pricing model failure or a data feed problem. Different error types carry different remediation paths.

Why the short book raises the stakes

ETFs that carry short positions mark their books daily, and an undetected error in a short position can compound before it is caught. The restatement suggests the firm identified the discrepancy and moved to correct it. AdvisorShares has not disclosed the corrected NAV figures, the date the original error occurred, or the scope of affected calculation periods. Those are the numbers that will determine any practical impact on investors who bought or sold shares at the previously disclosed price.

The disclosure on record

HDGE is listed on NYSE Arca and DWSH on Nasdaq. The announcement was distributed via PRNewswire on July 8, 2026. On balance, the open questions for shareholders are the corrected per-share figures and the period they cover.