Greenwich-headquartered Northern Lights Fund Trust IV has announced it is closing and liquidating the Long Cramer Tracker ETF (Symbol: LJIM), an exchange-traded fund that tracked stock picks made by CNBC personality Jim Cramer.
The fund launched last March as one of two ETFs tied to Cramer. The second ETF, named the Inverse Cramer Tracker ETF (Symbol:SJIM), will remain open to investors, but the Long Cramer Tracker ETF will have its final day of trading on the CBOE on Sept. 11.
Northern Lights added that shareholders may sell their holdings in the Fund prior to the closing date. From Sept. 11 through Sept. 21shareholders may only be able to sell their shares to certain broker-dealers. Shareholders remaining on Sept. 21 will receive cash at the net asset value of their shares as of that date, which will include any capital gains and dividends.
“We started LJIM in order to facilitate a conversation with Jim Cramer around his stock picks as the other side to the Short Cramer ETF,” said Matthew Tuttle, the fund’s adviser, “Unfortunately, Mr. Cramer and CNBC have been unwilling to engage in dialogue and instead have chosen to ignore the funds, therefore there is no reason to keep the long side going. Going forward we will just focus on the short side.”
Photo courtesy CNBC
