Alpha United States ETF (INAU), Innovation Alpha Global ETF (INAG) and Innovation Alpha Trade War (TWAR) Close after 6 Months
According to an article in Financial Advisor IQ, Listed Funds Trust, an exchange-traded fund provider, is liquidating three ETFs launched in June, “one of which was considered by advisors as among those least likely to succeed.”
Listed Funds Trust is reportedly liquidating Innovation Alpha United States ETF (INAU), Innovation Alpha Global ETF (INAG) and Innovation Alpha Trade War (TWAR) on December 9, with the funds’ last trading day on the New York Stock Exchange scheduled for December 16, according to a SEC filing.
The investment advisor to the funds, MCAM International, recommended the liquidation, according to the filing. After liquidation the proceeds will reportedly be distributed to shareholders, on or about December 17, according to the article.
Innovation Alpha Trade War was the third most common pick of Top Financial Times 400 Brokers and Top FT 300 RIAs as an ETF “deemed too niche to succeed,” according to Ignites Research. The fund is an ETF that reportedly seeks to track the total return performance, before fees and expenses, of the Martin Global Innovation Equity Trade War Index.
The fund raised just $1.43 million in net assets as of Dec. 5, according to the article.
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