Monday was the last day new creation orders were accepted for the ETF.
“The Fund will be closed to orders for new creation units as of September 19, 2016, and the last day of trading of the Fund’s shares on the NYSE Arca will be September 27, 2016. From September 28, 2016 through September 30, 2016, 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 Fund shares during that time period,” according to a statement issued by Oklahoma-based Exchange Traded Concepts.
WIZE is an alternative to more common passive index-based strategies. App users’ bullish or bearish views on stocks determine the selection and weighting of the 35 equities in the rules-based CROWDWIS. CROWDWIS outperformed the S&P 500 during its first year by 147 basis points (Jan. 7, 2015 – Jan. 7, 2016). The index was down 0.56 percent for the year ended Jan. 7, 2016 versus the S&P 500 down 2.04 percent on a total return basis.
In August, more than 40 ETFs were closed, matching the combined total through the first seven months of the year.
About 100 ETFs were closed last year and this year’s pace is ahead of that.