ETF Managers Group (ETFMG) Announces Closure of ETF

Rhea-AI Summary

ETF Managers Group has announced the closure of the ETFMG 2x Daily Travel Tech ETF (AWYX) due to a review of market demand. Effective immediately, AWYX will stop accepting creation orders and increase cash holdings in preparation for liquidation. Trading will be suspended on the NYSE Arca at the market's close on April 14, 2023. The liquidation proceeds are expected to be sent to shareholders around April 18, 2023. This decision reflects the ongoing assessment of investor interest and demand for the fund's strategy.

Positive

• None.

Negative

• Closure of the ETFMG 2x Daily Travel Tech ETF due to low market demand.
• Suspension of trading on April 14, 2023, indicating a lack of investor interest.

SUMMIT, N.J.--(BUSINESS WIRE)-- ETF Managers Group, LLC (ETFMG) announced today that the Board of Trustees of the ETF Managers Trust has decided to close the ETFMG 2x Daily Travel Tech ETF (AWYX) based on an ongoing review of market demand. Effective immediately, AWYX will increase its cash holdings in contemplation of liquidation, will no longer accept creation orders, and will no longer seek to implement the Fund’s principal investment strategy.

Trading will be suspended on the NYSE Arca at the closing of the market on April 14, 2023. Proceeds of the liquidation are scheduled to be sent to shareholders on or about April 18, 2023. For additional information, shareholders can visit www.etfmg.com/funds/awyx.

About ETFMG

ETFMG is a provider of exchange-traded funds (ETFs), founded in 2014 with a vision of developing innovative thematic ETFs that provide investors unique exposure to new markets. Today, the ETFMG fund line up provides access to a diverse collection of global themes and is comprised of 75% first to market products. We turn portfolio management strategies into successful ETFs by partnering with market segment experts to bring long-term growth opportunities to investors. ETFMG funds are proof as to the power of the ETF wrapper and that thematic products can have a place in investors’ portfolios. To learn more about ETFMG and our portfolio of exchange traded funds please visit www.etfmg.com or follow us on LinkedIn, Twitter @ETFMG, or YouTube.

Carefully consider a Fund’s investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund’s summary or statutory prospectuses, available on www.etfmg.com. Please read the prospectus carefully before investing.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230327005645/en/

Deborah Kostroun

Zito Partners

(201) 403-8185

deborah@zitopartners.com

Source: ETF Managers Group, LLC

FAQ

Why is the ETFMG 2x Daily Travel Tech ETF (AWYX) closing?

The closure is due to an ongoing review of market demand, indicating low investor interest.

When will trading for AWYX be suspended?

Trading for AWYX will be suspended on April 14, 2023.

What happens to shareholders of AWYX after the ETF closes?

Liquidation proceeds are scheduled to be sent to shareholders on or about April 18, 2023.

Will AWYX accept new creation orders before closure?

No, effective immediately, AWYX will no longer accept creation orders.