Bringing you live news and features since 2006 

ALPS ETF Trust to liquidate WCAT ETF

RELATED TOPICS​

ALPS ETF Trust has announced the scheduled liquidation of the Jefferies | TR/J CRB Wildcatters Exploration & Production Equity ETF (WCAT). The fund will close to new investors on 27 April, 2012 and will liquidate on 2 May, 2012.

ALPS ETF Trust’s Board of Trustees decision was made after consultation with ALPS Advisors, the investment advisor to the Fund. The Board considered current market conditions as well as prospects for growth in the Fund’s assets in the foreseeable future. The board determined that it was advisable and in the best interests of the Fund and its shareholders to liquidate the Fund, which is listed for trading on NYSE Arca, Inc. (the "NYSE Arca").

Friday, 27 April, 2012, is scheduled to be the last day of trading for the shares of the Fund on NYSE Arca. Beginning immediately through 1 May, 2012, the Fund will be in the process of closing down and liquidating its portfolio. The process will result in the Fund not tracking its underlying index and its cash holdings increasing, which may be inconsistent with the Fund’s investment objectives and strategies.

From 30 April, 2012 to 1 May, 2012, shareholders may be able to sell their shares to certain broker-dealers, but there can be no assurance that there will be a market for the Fund. Any person holding shares in the Fund as of the liquidation date of 2 May, 2012 will receive a cash distribution equal to the net asset value of their shares as of that date. Shareholders receiving this cash distribution will not incur transaction fees in connection with this distribution or the liquidation of their shares in the Fund. However, a portion of the distribution may represent an ordinary income dividend or a capital gain distribution.

 

Latest News

Figment Europe, a provider of institutional staking infrastructure, writes that it is solidifying its presence in the heart of Europe’s..
Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..

Related Articles

Ryan McCormack, Invesco
This year sees the 25th anniversary of Invesco’s QQQ, the USD240 billion ETF – the fifth largest ETF in the...
ETFs
The European ETF market achieved a record 28 per cent growth – reaching over USD1.8 trillion assets under management (AUM)...
Sal Esposito, Zacks Investment Management
Zacks Investment Management started doing investment research in 1978 and in 1992 started its investment management arm, initially with SMAs...
Jeremy Senderowicz, Vedder Price
Jeremy Senderowicz, a member of the Investment Services Group at law firm Vedder Price, has witnessed a steady upswing in...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by