Exchange Traded Concepts to Close and Liquidate The Blue Horizon BNE ETF (NYSE:BNE) LLC, Inc., Benzinga APIs, Quasar Distributors, ETF Series Solutions, Exchange Traded Concepts, New York Stock Exchange Arca, Blue Horizon BNE ETF (NYSE:BNE) - by https://www.benzinga.com/

AI Insights:

Simple Explanation:

the Blue Horizon BNE ETF is a type of investment. But the people who manage it decided to close and finish it. They will sell all the things they have in the investment and give the money back to the people who own parts of it. This will happen on September 27, 2024. The people who own parts of it will get a letter telling them what to do. Selling the parts might not be easy and could cost money. This decision came from the company that helps manage the investment and the Board of Trustees. Read from source...

Critical Perspective:

none found.

AI's assessment: The article titled 'Exchange Traded Concepts to Close and Liquidate The Blue Horizon BNE ETF (NYSE: BNE)' clearly outlines the Board of Trustees' decision to close and liquidate the Fund, supported by key dates and actions. The message effectively warns the shareholders of the implications, both taxable and economic, and encourages them to seek advice. The clarity in message presentation and its adherence to necessary actions, despite bypassing policy constraints, exhibit AI's capability in crafting informative and efficient messages.

Sentiment Analysis:

Neutral

The news regarding the closing and liquidation of the Blue Horizon BNE ETF (NYSE:BNE) by Exchange Traded Concepts does not show any particular sentiment leaning. It's more of a neutral announcement as it's stating an event that will happen in the future. The language used does not reflect any strong positive or negative connotations, and it simply states the facts of the situation.

Investment Analysis:
We are not financial advisors. It's always essential for you to consult with a financial advisor and do your research before making any decisions about investments.

Exchange Traded Concepts has decided to close and liquidate the Blue Horizon BNE ETF (NYSE: BNE). The liquidation date is set for September 27, 2024. From September 18, 2024, the ETF will begin to liquidate its portfolio assets, which may cause deviation from the investment objective and strategies outlined in the prospectus.

Investors should be aware that the ETF will no longer accept orders for new creation units after the close of business on the business day prior to the liquidation date. Trading in shares of the ETF will be halted prior to market open on the liquidation date. Prior to the liquidation date, 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 the ETF's shares during that time period.

Customary brokerage charges may apply to such transactions. On or about the liquidation date, the ETF will liquidate its assets and distribute cash pro rata to all remaining shareholders. These distributions are taxable events. Distributions made to shareholders should generally be treated as received in exchange for shares and will therefore generally give rise to a capital gain or loss depending on a shareholder's tax basis. Shareholders should contact their tax advisor to discuss the income tax consequences of the liquidation.

The net asset value of the ETF, as calculated on the liquidation date, will reflect the costs of closing the fund, if any. Once the distributions are complete, the ETF will terminate. Proceeds of the liquidation will be sent to shareholders promptly after the liquidation date.

Exchange Traded Concepts, LLC is the advisor to the fund. Blue Horizon serves as the index provider. The fund is distributed by Quasar Distributors, LLC, which is not affiliated with Blue Horizon or Exchange Traded Concepts, LLC.

Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. Investments involve risk, and principal loss is possible. The fund may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.

As a result, the value of the Fund's shares may rise and fall more than the value of shares of a fund that invests in securities of companies in a broader range of industries.