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USCF to close three ETFs

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United States Commodity Funds (USCF), a sponsor of exchange-traded products, is to close and liquidate three of its exchange-traded products – the United States Agriculture Index Fund (USAG), the United States Short Oil Fund, LP (DNO); and the United States Diesel-Heating Oil Fund, LP (UHN).

As of the close of regular trading on the NYSE Arca, Inc. (NYSE Arca) on 6 September 2018, the Funds will no longer accept orders for Creation Baskets or Redemption Baskets (as such terms are defined in the applicable Fund’s prospectus) from authorized participants. Trading in the shares of the Funds on the NYSE Arca, will be suspended prior to the open of market on 7 September 2018 and beginning on that date, there can be no assurance that there will be a secondary market for the shares. Shareholders may sell their holdings before 7 September 2018 and customary brokerage charges may apply to such transactions.
 
On or about 6 September 2018, the Funds will begin the process of liquidating their respective portfolios.  As a result, the Funds’ cash holdings will increase, and the Funds will no longer be managed in accordance with their investment objectives.
 
The liquidation date for all the Funds will be 12 September 2018 and the proceeds of the liquidation are scheduled to be sent to shareholders of the Funds on or about 13 September 2018. 
 
These distributions to shareholders will be treated as liquidating distributions for US federal income tax purposes and shareholders are encouraged to consult their own tax advisors concerning the impact of the liquidation of the Funds in light of their own unique circumstances.

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