Factor Advisors to Shutter Two PureFunds ETFs

ETF Trends

Factor Advisors has decided to close the PureFunds ISE Diamond/Gemstone ETF (GEMS) and the PureFunds ISE Mining Service ETF (MSXX).

The firm made the announcement in a statement issued after the close of U.S. markets Friday.

GEMS and MSXX debuted in late November 2012.

“The last day of trading of shares of the Funds on the NYSE Arca will be January 23, 2014. Following the last day of trading and prior to the Liquidation Date, shareholders will not be able to purchase or redeem shares from the Funds and will be unable to purchase or sell them in the secondary market. Prior to the last day of trading, shareholders may continue to purchase and sell Fund shares through a broker in the standard manner,” according to the statement.

The PureFunds ISE Junior Silver Small Cap Miners/Explorers ETF (SILJ) remains open. SILJ, the first ETF devoted exclusively to small-cap silver miners, is up 2.6% in the past week and 9.1% in the past month. [Opportunity With Mining ETFs]

PureFunds ISE Junior Silver Small Cap Miners/Explorers ETF

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SILJ

 

 

ETF Trends editorial team contributed to this post.

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