CARLSBAD, Calif., May 8, 2020 /PRNewswire/ -- RYZZ Capital Management LLC announced today that the Board of Trustees of ETF Series Solutions (the "Trust") has determined to close and liquidate the RYZZ Managed Futures Strategy Plus ETF (NYSE: RYZZ) (the "Fund") effective immediately after the close of business on May 29, 2020. RYZZ Capital Management recommended the liquidation and closure of the Fund after consideration of the Fund's prospects for growth in the wake of the Covid-19 pandemic and its adverse impact on RYZZ Capital Management's ability to engage in business development activities in 2020 and beyond, among other factors.
The Fund's last day of trading will be May 28, 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 21, 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 29, 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 1-858-259-8911.
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 1-858-259-8911. Please read it carefully before investing.
Investing involves risk. Principal loss is possible.
A commission may apply when buying or selling an ETF.
The RYZZ ETF is distributed by Quasar Distributors, LLC.
SOURCE RYZZ Capital Management LLC