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Five FactorShares ETFs to close on Friday

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Factor Capital Management is to close five of its leveraged FactorShares exchange-traded funds, effective 22 November.

The ETFs in question are FactorShares 2X: S&P500 Bull/TBond Bear, FactorShares 2X: TBond Bull/S&P500 Bear, FactorShares 2X: S&P500 Bull/USD Bear, FactorShares 2X: Oil Bull/S&P500 Bear, and FactorShares 2X: Gold Bull/S&P500 Bear.
 
The managing owner has determined that, in light of current market conditions and as a result of each fund’s asset size, it was advisable to close each fund.
 
Trading on the NYSE Arca for the shares of each fund listed above will be suspended prior to the open of business on 22 November. Shareholders may sell their holdings on or before 21 November and may incur customary brokerage charges. Shareholders who do not sell their holdings on or before 21 November will receive cash equal to the amount of the net asset value of their shares along with any accrued capital gains and remaining income.
 
Each fund’s net asset value will reflect the costs of closing the fund as calculated on the liquidation date. 

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