The Inverse Cramer Tracker ETF (CBOE: SJIM) will be closed and liquidated; the orderly liquidation of the ETF was authorized by the Board of Trustees of the Northern Lights Fund Trust IV. According to the announcement, the board determined that closing and liquidating the fund was in the best interests of the fund and its shareholders. The last day of trading for the fund will be Feb. 13, 2024, which will also be the last day the fund will accept creation units from authorized participants. Shareholders may sell their holdings before that date; customary brokerage charges may apply. In addition, the announcement noted that authorized participants may redeem baskets of shares for a pro rata portion of the fund’s portfolio on hand through the same date. It is anticipated that the fund will cease operations, liquidate assets and distribute liquidation proceeds to shareholders on Feb. 23, 2024. The announcement stated that between those two dates, there is no assurance that there will be a market for the fund’s shares. “We started [the fund] in order to point out the danger of following TV stockpickers, Jim Cramer specifically, and the total lack of accountability,” said Inverse Cramer Tracker ETF fund portfolio manager Matthew Tuttle in the press release. “We feel like we have accomplished that mission, but retail investors are more focused on volatile products and the interest in a long/short portfolio never fully materialized. With the success of the T-REX product line, and the other initiatives we are involved in, we just didn’t have the time to keep running this portfolio.”
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About the Inverse Cramer Tracker ETF
The Inverse Cramer Tracker ETF seeks to provide investment results that are approximately the opposite of, before fees and expenses, the results of the investments recommended by television personality Jim Cramer. For more information about this fund, please visit www.CramerETFS.com.
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