SUMMIT, N.J.--(BUSINESS WIRE)--ETF Managers Group LLC (“ETFMG”) today announced that the Board of Trustees of the ETF Managers Trust has decided to close the PureFunds ISE Big Data ETF (BIGD) and the PureFunds Solactive FinTech ETF (FINQ) based on an ongoing review of market demand. Effective immediately, BIGD and FINQ will increase their cash holdings in contemplation of liquidation and will no longer accept creation orders.
Trading will be suspended on the NYSE Arca for BIGD and on Nasdaq for FINQ at the closing of the market on July 31, 2017. Proceeds of the liquidation are scheduled to be sent to shareholders on or about August 1, 2017. For added information, shareholders can visit www.purefunds.com.
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, regulatory, financial and compliance management. ETF Managers Group offers active marketing and dedicated wholesale services for all ETF product types.
Before investing, carefully consider the Funds' investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the Funds’ prospectuses, which may be obtained by calling 1-844-ETF-MGRS (1-844-383-6477), or by visiting www.purefunds.com.
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.
ETF Managers Group LLC is the investment adviser to the funds.
The funds are 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 PureFunds or Solactive.