#United States #Oklahoma City #Liquidation #Exchange Traded Concepts #Range Cancer ETF

Exchange Traded Concepts to Liquidate Range Cancer Therapeutics ETF

In a significant development for investors, Exchange Traded Concepts, LLC, has announced the upcoming liquidation of the Range Cancer Therapeutics ETF, following a recommendation by the Board of Trustees of ETF Series Solutions. The fund will officially close its operations at the end of business on May 27, 2025, marking an important date for stakeholders involved.

Timeline of Events

Starting from approximately May 13, 2025, the fund will initiate the liquidation of its portfolio assets, resulting in an increase in cash holdings. This move will deviate from the stated investment objectives and strategies outlined in the fund’s prospectus prior to this decision. Investors should be aware that new orders for creation units will not be accepted following the close of trading on May 26, 2025. Furthermore, trading in the fund's shares will be paused on the liquidation date, meaning that shareholders may only trade through specific broker-dealers until the liquidation process is completed.

The decision to liquidate comes with a range of implications for existing shareholders. Due to the nature of ETF trading, there is no guarantee of a market for the fund's shares during the liquidation phase, potentially complicating transactions that might involve customary brokerage fees.

Tax Implications

On the liquidation date, the ETF will liquidate its assets and distribute the resulting cash pro rata to remaining shareholders. It's crucial to highlight that these distributions will be treated as taxable events. Shareholders will likely experience capital gains or losses based on their individual tax circumstances, emphasizing the necessity to consult with tax advisors regarding the consequences of the ETF's closure.

As calculated on the date of liquidation, the fund’s net asset value will factor in any costs associated with the termination of the fund. Following the distribution of cash to shareholders, the ETF will officially cease operations. Proceeds from the liquidation will be dispatched to shareholders promptly, ensuring a timely settlement of accounts.

Final Thoughts

Investors should stay informed and regularly check for updates regarding the fund’s status as the liquidation date approaches. The Range Cancer Therapeutics ETF, listed on The Nasdaq Stock Market LLC, has been an investment vehicle that aimed to support cancer-focused therapeutic ventures, and its closure represents a notable shift in that space. Keeping abreast of these developments can help investors make sound decisions regarding their portfolios. For more detailed information and the latest updates, stakeholders are encouraged to reach out via the provided contact number, 1-800-617-0004, or explore more at the fund's official website.

In conclusion, the closure of the Range Cancer Therapeutics ETF highlights the fluid and dynamic nature of the investment landscape. It serves as a reminder for current and prospective investors about the importance of comprehension of their investment vehicles, responsibilities, and potential outcomes that may arise during periods of significant market activity.