NEW YORK, Oct. 18, 2019 — GraniteShares announced today that it will close and liquidate the following ETF:
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No K-1 ETF
On October 16, 2019, the board of GraniteShares ETF Trust approved the liquidation of the GraniteShares S&P GSCI Commodity Broad Strategy No K-1 ETF (the “ETF”). The last day of trading for the ETF on NYSE Arca will be Friday November 15, 2019. The last day creation orders will be accepted in the ETF will be Friday November 8, 2019. Investors may sell their shares of the ETF until market close on November 15, 2019. Shares of the ETF will no longer trade on NYSE Arca after market close on November 15, 2019 and will be subsequently delisted. The final distribution to shareholders of the ETF is expected to occur on or about November 22, 2019.
When the ETF commences liquidation of its portfolio securities, it may hold cash and securities that may not be consistent with the ETF’s investment objective and strategy. During this period the ETF is likely to incur higher tracking error than is typical for the ETF.
At the time the liquidation of the ETF is complete, the ETF shares will be individually redeemed. For shareholders that still hold shares as of November 22, 2019, shares will be automatically redeemed for cash at the net asset value as of close of business on that date, which will reflect the costs of closing the ETF. Shareholders will generally recognize a capital gain or loss on the redemptions. The ETF may or may not pay one or more dividends or other distributions prior to or along with the redemption payments.
GraniteShares is an independent, fully funded ETF company headquartered in New York City. GraniteShares’ ETF suite includes one of the lowest-cost physical gold ETFs (BAR), a broad-based commodity ETF (COMB), an ETF that seeks to exclude U.S. large cap companies most likely to suffer from technological disruption over the long term (XOUT), a high alternative income-focused fund that invests in pass-through securities (HIPS) and the lowest-cost* physical platinum ETF (PLTM). GraniteShares has experienced robust growth in 2019, recently surpassing $700 million in total assets under management.
*Source: ETF.com, September 2019. Trust costs as of most recent prospectus dated April 9, 2019.
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Investors should consider the investment objectives, risks, charges and expenses of the GraniteShares funds (the “Funds”) carefully before investing. For a prospectus or summary prospectus with this and other information about the Funds, please call (844) 476 8747, or visit the website at www.graniteshares.com. Read the prospectus or summary prospectus carefully before investing.
To obtain a prospectus for BAR, please visit
To obtain a prospectus for PLTM, please visit
Except as described above regarding the liquidation of the ETF, shares of the Funds may be sold during trading hours on the exchange through any brokerage account, shares are not individually redeemable, and shares may only be redeemed directly from a Fund by Authorized Participants. There can be no assurance that an active trading market for shares of a Fund will develop or be maintained. Shares may trade above or below NAV. Brokerage commissions will apply.
The Funds are distributed by Foreside Fund Services, LLC. GraniteShares is not affiliated with Foreside Fund Services, LLC.
You could lose money by investing in the Funds. There can be no assurance that the investment objective of the Funds will be achieved. None of the Funds should be relied upon as a complete investment program. The investment program of the Funds are speculative, entails substantial risks and include asset classes and investment techniques not employed by more traditional mutual funds. Investments in the Funds are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Investing in physical commodities, including through commodity-linked derivative instruments such as Commodity Futures, Commodity Swaps, as well as other commodity-linked instruments, is speculative and can be extremely volatile, and may not be suitable for all investors. Market prices of commodities may fluctuate rapidly based on numerous factors, including: changes in supply and demand relationships (whether actual, perceived, anticipated, unanticipated or unrealized); weather; agriculture; trade; domestic and foreign political and economic events and policies; diseases; pestilence; technological developments; currency exchange rate fluctuations; and monetary and other governmental policies, action and inaction. Derivatives may be more sensitive to changes in market conditions and may amplify risks.
A liquid secondary market may not exist for commodity-linked derivative instruments. This may make them difficult for certain Funds to sell them at an acceptable price.
Because the Funds may effect redemptions principally for cash, rather than in-kind distributions, an investment in a Fund’s shares may be less tax efficient than investments in shares of conventional ETFs, and there may be a substantial difference in the after-tax rate of return between a Fund and conventional ETFs.
A Fund may engage in frequent trading of derivatives. Active and frequent trading may lead to the realization and distribution to shareholders of higher short-term capital gains, which would increase their tax liability. Frequent trading also increases transaction costs, such as commissions, which could detract from the Fund’s performance.