After careful consideration, Exchange Traded Concepts Trust has decided to close and liquidate the REX VolMAXX Short VIX Futures Strategy ETF (VMIN).
Exchange Traded Concepts (ETC) serves as the investment adviser and Vident Investment Advisory, (Vident) serves as the sub-adviser to the Fund.
The fund will be closed to orders for new creation units as of 16 November 2018, and the last day of trading of the Fund’s shares on the Cboe BZX Exchange will be 26 November 2018. From 16 November 2018 through 26 November 2018, shareholders may only be able to sell their shares to certain broker-dealers, and there is no assurance that there will be a market for Fund shares during that time period. Customary brokerage charges may apply to such transactions. The Fund will liquidate on or around 29 November 2018. For the final dividend distribution, the ex-date will be 21 November 2018, the record date will be 23 November 2018, and the pay date will be 29 November 2018.
Since 16 November 16 2018, the fund has been converting its portfolio assets to cash. This will cause the fund to increase its cash holdings and deviate from the investment objective and strategies stated in the Fund’s prospectus.
On or about the liquidation date, the Fund will liquidate its assets and distribute cash pro rata to all remaining shareholders. These distributions are taxable events. In addition, these payments to shareholders will include accrued capital gains and dividends, if any. As calculated on the Liquidation Date, the Fund’s net asset value will reflect the costs of closing the Fund. Once the distributions are complete, the Fund will terminate.
