Bringing you live news and features since 2006 

Exchange Traded Concepts to close and liquidate Horizons S&P Financial Select Sector Covered Call ETF


Exchange Traded Concepts Trust II is to close and liquidate the Horizons S&P Financial Select Sector Covered Call ETF (HFIN), which is managed and marketed by Horizons ETFs Management.

The last day of trading of the Fund’s shares on the NYSE Arca will be March 20, 2015. 

Shareholders may sell Fund shares through a broker in the standard manner through this date. Customary brokerage charges may apply to such transactions. The Fund will be closed to new investors as of 20 March, 2015. Between 23 March, 2015 and 26 March, 2015, the Fund will be in the process of liquidating its portfolio assets. This will cause the Fund to increase its cash holdings and deviate from the investment objective and strategies stated in the prospectus.

Shareholders remaining in the Fund on March 23, 2015 will have their shares redeemed automatically and will receive cash in an amount equal to the net asset value of their shares as of the close of business on March 26, 2015. This amount includes any accrued capital gains and dividends. Shareholders remaining in the Fund on March 23, 2015 will not be charged any transaction fees by the Fund.

“The decision to close the Horizons S&P Financial Select Covered Call ETF comes after an extensive product lineup review, which included valuable feedback from our clients and industry partners,” says Taeyong Lee, Head of the Global ETF Business for Mirae Asset, the parent company of Horizons USA. “This closure is not a reflection of our commitment to the US ETF market.  We have recently undergone a strategic re- alignment of our North American ETF businesses which we believe enhances our commitment to growing our ETF business in the United States and includes plans to expand the current number of US-listed ETFs that we offer.”

Latest News

The August data from LSEG Lipper shows that the global ETF industry held USD10,547.4 billion in assets under management on..
HANetf has announced that their European Green Deal UCITS ETF (ticker: EUGD) has reached USD52 million (EUR49.9 million) in assets..
Legal & General Investment Management (LGIM) has announced the launch of the L&G Global Brands UCITS ETF. The firm writes..
Vienna Stock Exchange has launched three new thematic indices: CECE Reshoring, CECE Commodity Producers and CECE Clean Energy, writing that..

Related Articles

John Ciampaglia, Sprott Asset Management
Geo-political tensions and concerns about hitting clean energy targets have brought the focus back onto nuclear power in recent months,...
Nick King, Robeco
Europeam investment management giant Robeco has announced the appointment of Nick King as Head of Exchange Traded Funds (ETFs), in...
Kristof Gleich, Harbor Capital
Harbor Capital burst onto the ETF issuance world in 2021 and now has USD1.1 billion in assets in ETFs. But...
Europe’s thematic ETF provider, Rize ETF, has been acquired by ARK Invest LLC, the parent of ARK Investment Management LLC,...
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