NEW YORK--(BUSINESS WIRE)--Defiance ETFs announced today that the Board of Trustees of ETF Series Solutions (the “Trust”) has determined to close and liquidate the Defiance Next Gen Food & Agriculture ETF (NYSE Arca: DIET) (the “Fund”) effective immediately after the close of business on May 22, 2020. Defiance ETFs recommended the liquidation and closure of the Fund after consideration of the Fund’s prospects for growth, among other factors.
The Fund’s last day of trading will be May 21, 2020, which will also be the final day for creation unit orders by authorized participants. The Fund will begin liquidating its portfolio assets on or about May 1, 2020, which will cause the Fund to increase its cash holdings and deviate from the investment objective and strategies stated in the Fund’s prospectus. The Fund will conclude operations and distribute the remaining proceeds to shareholders promptly after May 22, 2020. Shareholders who do not sell their Fund shares by this date will have their shares automatically redeemed for cash based on the Fund’s net asset value (NAV). Customary brokerage charges may apply to transactions to sell Fund shares. Shareholders should contact their tax advisor to discuss the income tax consequences of the liquidation.
For additional information, please call 1-833-333-9383.
The Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information about the investment company. The prospectus can be obtained by calling 1-833-333-9383 Please read it carefully before investing.
Investing involves risk. Principal loss is possible.
A commission may apply when buying or selling an ETF.
Defiance ETFs are distributed by Foreside Fund Services, LLC.