Active Alts, Inc. Announces ETF Closure
May 11 2018 - 4:45PM
Business Wire
Active Alts, Inc. today announced the scheduled closing and
liquidation of the Active Alts Contrarian ETF (the
"Fund").
ETF Ticker
CUSIP Active Alts Contrarian ETF
SQZZ 86280R308
The Fund will begin liquidating its portfolio and will invest in
cash equivalents until all shares have been redeemed. This process
will result in the Fund increasing its cash holdings, which is
inconsistent with the Fund’s investment objective and strategy. The
last date for authorized participants to create and redeem units in
SQZZ will be May 25, 2018. The Fund will cease trading on the
NASDAQ and will be closed to purchase by investors as of the close
of regular trading on the NASDAQ on May 25, 2018 (the
“Closing Date”). The Fund will not accept purchase or
redemption orders after the Closing Date.
Shareholders may sell their holdings in the Fund prior to the
Closing Date and customary brokerage charges may apply to these
transactions. However, from Closing Date through May 30,
2018 (the “Liquidation Date”), there will likely be no
market for the Fund’s shares.
On or about the Liquidation Date, the Fund will liquidate its
assets and distribute cash pro rata to all shareholders who have
not previously redeemed or sold their shares. The liquidation of
the Fund will be a taxable event for shareholders that do not hold
shares through tax-advantaged arrangements. These payments to
shareholders may include accrued capital gains and dividends. 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.
The Fund’s investment strategy will soon be available through
separately managed accounts. Please contact Active Alts, Inc. for
more information.
Distributed by Foreside Fund Services, LLC
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version on businesswire.com: https://www.businesswire.com/news/home/20180511005755/en/
Active Alts, Inc.Brad Lamensdorf,
203-557-3006Brad@activealts.com
Active Alts Contrarian Etf (delisted) (NASDAQ:SQZZ)
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