SUMMIT, N.J.--(BUSINESS WIRE)--Today ETF Managers Group (“ETFMG”) and BlueStar Indexes® announce plans to move the primary listing for the BlueStar TA-BIGITech® Israel Technology ETF (ITEQ®) to NYSE Arca from Nasdaq.
ITEQ® will officially begin trading on the NYSE Arca at market open on September 26, 2017. The Fund will continue trading as normal on Nasdaq until the close of the market on September 25, 2017.
“We are thrilled to have ITEQ list on the NYSE,” said Steven Schoenfeld, Founder and Chief Investment Officer of BlueStar Indexes®, the firm that created and manages the TA-BIGITech® index that ITEQ® tracks. “Israel’s dynamic technology companies are significantly contributing to technological innovation around the world, and most investors are still not fully aware of the importance of these stocks. We look forward to expanding awareness of the Israeli Tech investment thesis with NYSE as the primary listing for ITEQ®.”
“The NYSE has been a valued partner and is the primary listing for many of our products,” said Samuel Masucci, CEO and Founder of ETFMG. “We will continue to help develop quality products for the number one marketplace for ETFs.”
The change in listing will not affect shareholders of ITEQ®.
About BlueStar Indexes®
BlueStar Indexes® is a financial firm that specializes in developing and commercializing indexes and ETFs with a focus on the Israeli capital markets. BlueStar’s mission is to provide global institutional and retail investors with thoughtfully designed investment strategies for efficiently accessing the full range of Israeli asset classes, and BlueStar currently maintains eight Israeli equity indexes and one Israel bond index. BlueStar’s flagship BIGI® and TA-BIGITech® indexes are tracked by eight index-tracking products in the US and Israel, with more than $125 million in assets.
About ETF Managers Group (ETFMG)
ETFMG is a leading Exchange Traded Funds (ETF) private label services company. ETFMG offers a full range of ETF product services to the asset management community including commodity pool ETPs as well as both active and passive ETF funds. The services provided include product operations, portfolio management, regulatory, financial and compliance management. ETF Managers Group offers active marketing and dedicated wholesale services for all ETF product types through its registered broker dealer ETFMG Financial LLC. For more information on ETF Managers Group visit www.etfmg.com.
Carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the Fund’s prospectus, which may be obtained by calling 1-844-ETF-MGRS (1-844-383-6477), or by visiting www.iteqetf.com. Read the prospectus carefully before investing.
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Narrowly focused investments typically exhibit higher volatility. Investment in securities of Israeli companies involves risks that may negatively affect the value of your investment in the Fund. Among other things, Israel’s economy depends on imports of certain key items, such as crude oil, coal, grains, raw materials and military equipment. Foreign investing involves special risks such as currency fluctuations and political uncertainty. Funds that invest in smaller companies may experience greater volatility. Funds that emphasize investments in technology generally will experience greater price volatility.
ITEQ seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the TASE-BlueStar Israel Global Technology Index, which tracks the performance of exchange-listed Israeli technology operating companies. It is not possible to invest directly in an index.
ETF Managers Group LLC is the investment adviser to the fund.
The fund is distributed by ETFMG Financial LLC. ETF Managers Group LLC and ETFMG Financial LLC are wholly owned subsidiaries of Exchange Traded Managers Group LLC (collectively, "ETFMG"). ETFMG Financial LLC is not affiliated with BlueStar Indexes.