IndexIQ has announced today that it plans to close the IQ Emerging Markets Mid Cap ETF.
Assets in the fund represent less than 0.5% of IndexIQ's ETF assets.
The closure was approved by the fund's Board of Trustees on Dec. 3. The fund's final day of trading on the NYSE Arca will be Dec. 18.
Until that time, shareholders may only be able to sell their shares to certain broker-dealers. Shares not sold by the closing date will be automatically redeemed on Dec. 28, the fund's last day of operations, receiving a cash distribution equal to the net asset value of their shares as of that date.
IndexIQ is a Rye Brook, NY-based provider of index-based liquid alternative solutions. ETFs, mutual funds and separate accounts are focused on absolute return, real asset and international strategies.