Market Overview

Two Jefferies ETFs to Close


Jefferies (NYSE: JEF) ETF lineup will be cut in half as the Jefferies | TR/J CRB Global Agriculture Equity Index Fund (NYSE: CRBA) and Jefferies | TR/J CRB Global Industrial Metals Equity Index Fund (NYSE: CRBI) will be closed on Dec. 28.

ALPS ETF Trust's Board of Trustees' decision was made after consultation with ALPS Advisors, Inc., the investment advisor to the funds, according to a statement.

The last trading day for the funds is scheduled to be December 22nd. Both ETFs made their debuts in October 2009, but have struggle to attract capital from investors. As of Tuesday, CRBA had just $8.56 million in assets under management while CRBI had just $3.14 million in AUM, according to the Jefferies web site.

Volume was also thin for both ETFs. CRBI has average daily trade of 900 shares while CRBA's daily turnover is less than 800 shares.

Any person holding shares in the Funds as of the liquidation date of December 28, 2011 will receive a cash distribution equal to the net asset value of their shares as of that date. Shareholders receiving this cash distribution will not incur transaction fees in connection with this distribution or the liquidation of their shares in the Funds. However, a portion of the distribution may represent an ordinary income dividend or a capital gain distribution, according to the statement.

When CRBA and CRBI close, Jefferies will be left with two ETFs, the Jefferies TR/J CRB Wildcatters Exploration & Production ETF (NYSE: WCAT) and the Jefferies TR/J CRB Global Commodity Equity ETF (NYSE: CRBQ).

Posted-In: News Sector ETFs Specialty ETFs Futures Commodities Events Intraday Update Markets


Related Articles (JEF + CRBQ)

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