Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 15

Defiance Announces Fund Closure

Posted by fidest press agency su martedì, 3 dicembre 2019

Defiance ETFs announced today that the Board of Trustees of ETF Series Solutions (the “Trust”) has determined to close and liquidate the Defiance Next Gen Video Gaming ETF (NYSE Arca: VIDG) (the “Fund”) effective immediately after the close of business on December 27, 2019. Defiance ETFs recommended the liquidation and closure of the Fund after consideration of the Fund’s prospects for growth, among other factors. The Fund’s last day of trading will be December 26, 2019, which will also be the final day for creation unit orders by authorized participants. The Fund will begin liquidating its portfolio assets on or about December 2, 2019, which will cause the Fund to increase its cash holdings and deviate from the investment objective and strategies stated in the Fund’s prospectus. The Fund will conclude operations and distribute the remaining proceeds to shareholders promptly after December 27, 2019. Shareholders who do not sell their Fund shares by this date will have their shares automatically redeemed for cash based on the Fund’s net asset value (NAV). Customary brokerage charges may apply to transactions to sell Fund shares. Shareholders should contact their tax advisor to discuss the income tax consequences of the liquidation.

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