WALNUT CREEK, Calif., April 17, 2020 /PRNewswire/ -- USCF, a leading-edge provider of exchange traded product innovation, announced today that it plans to close and liquidate one of its products as a result of a decision and vote by the Board of Trustees of USCF ETF Trust that approved the liquidation and dissolution of the following exchange-traded fund (the "Fund"):
USCF SummerHaven SHPEN Index Fund (BUYN)
After the close of business on April 28, 2020, the Fund will no longer accept creation orders. Trading in the Fund will be halted prior to market open on April 30, 2020. Beginning on April 30, 2020, the Fund will not be traded on NYSE Arca, and there will be no secondary market for the shares of the Fund. On or about April 30, 2020, the Fund will begin the process of liquidating its portfolio, and may not be managed in accordance with its investment objective. The Fund will cease operations, liquidate its assets, and distribute proceeds to shareholders of record on or about May 6, 2020 (the "Liquidation Date"). Any shareholders remaining in the Fund will have their shares redeemed at net asset value on or about the Liquidation Date.
USCF operates on the leading edge of product innovation as an asset management firm offering exchange- traded products (ETPs) and exchange-traded funds (ETFs). The firm broke new ground with the launch of the first oil ETP, the United States Oil Fund, LP (USO), in 2006. Over the next decade, USCF designed and issued eleven more specialty products across commodity and private equity asset classes.
Katie Rooney is a registered representatives of ALPS Distributors, Inc.
Fund distributed by and not affiliated with ALPS Distributors, Inc.
USO002174 Exp. 4/30/2022