GraniteShares Announces Change in ETF Lineup
News provided byGraniteShares
May 26, 2023, 4:30 PM ET
NEW YORK, May 26, 2023 (GLOBE NEWSWIRE) -- GraniteShares announced today that it will close and liquidate the following ETF:
|Ticker||Fund Name||Commencement of investment operations|
|TSLI||GraniteShares 1x Short TSLA Daily ETF||08/08/2022|
On May 19, 2023, the board of GraniteShares ETF Trust approved the liquidation of the GraniteShares 1x Short TSLA Daily ETF (the “ETF”). The last day of trading for the ETF on NASDAQ Stock Market will be June 16, 2023. The last day creation orders will be accepted for the ETF will be June 14, 2023. Investors may sell their shares of the ETF until market close on June 16, 2023. Shares of the ETF will no longer trade on NASDAQ Stock Market after market close on June 16, 2023, and will be subsequently delisted. The final distribution to shareholders of the ETF is expected to occur on or about June 19, 2023.
When the ETF commences the liquidation of its portfolio, it may hold cash and securities that may not be consistent with the ETF’s investment objectives and strategies.
At the time the liquidation of the ETF is complete, the ETF shares will be individually redeemed. For shareholders that still hold shares of the ETF as of June 19, 2023, shares will be automatically redeemed for cash at the net asset value as of close of business on that date, which will reflect the costs of closing the ETF. Shareholders will generally recognize a capital gain or loss on the redemptions. The ETF may or may not pay one or more dividends or other distributions prior to or along with the redemption payments.
GraniteShares is an independent ETF issuer headquartered in New York City. GraniteShares will continue to offer the following leveraged single stock ETFs:
|ETF NAME||TICKER||UNDERLYING STOCK||MANAGEMENT FEE/TOTAL EXPENSES|
|GraniteShares 1.75x Long AAPL Daily ETF||AAPB||Apple||0.99%/1.15%|
|GraniteShares 1.75x Long BABA Daily ETF||BABX||Alibaba|
|GraniteShares 1.5x Long COIN Daily ETF||CONL||Coinbase|
|GraniteShares 1.5x Long META Daily ETF||FBL||Meta|
|GraniteShares 1.5x Long NVDA Daily ETF||NVDL||NVIDIA|
|GraniteShares 1.25x Long TSLA Daily ETF||TSL||Tesla|
In addition, GraniteShares’ ETF suite includes the following ETFs:
|ETF NAME||TICKER||EXPOSURE||MANAGEMENT FEE/TOTAL EXPENSES|
|GraniteShares Gold Trust||BAR||Gold||0.17%|
|GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF||COMB||Broad Commodities||0.25%|
|GraniteShares HIPS US High Income ETF||HIPS||High Income||0.70%/3.19%|
|GraniteShares Platinum Trust||PLTM||Platinum||0.50%|
|GraniteShares XOUT U.S. Large Cap ETF||XOUT||U.S. Large Cap||0.60%|
William Rhind, CEO
+1 646 876 5049
Investors should consider the investment objectives, risks, charges and expenses of the GraniteShares funds (the “Funds”) carefully before investing. For a prospectus or summary prospectus with this and other information about the Funds, please call (844) 476 8747, or visit the website at www.graniteshares.com. Read the prospectus or summary prospectus carefully before investing.
To obtain a prospectus for BAR, please visit
To obtain a prospectus for PLTM, please visit
Except as described above regarding the liquidation of the ETFs, shares of the Funds may be sold during trading hours on the exchange through any brokerage account, shares are not individually redeemable, and shares may only be redeemed directly from a Fund by Authorized Participants. There can be no assurance that an active trading market for shares in a Fund will develop or be maintained. Shares may trade above or below NAV. Brokerage commissions will apply.
The ETF Funds are distributed by ALPS Distributors, Inc. GraniteShares is not affiliated with ALPS.
You could lose money by investing in the Funds. There can be no assurance that the investment objective of the Funds will be achieved. None of the Funds should be relied upon as a complete investment program. The investment programs of the Funds are speculative, entails substantial risks and include asset classes and investment techniques not employed by more traditional mutual funds. Investments in the Funds are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Investing in physical commodities, including through commodity-linked derivative instruments such as Commodity Futures, Commodity Swaps, as well as other commodity-linked instruments, is speculative and can be extremely volatile, and may not be suitable for all investors. Market prices of commodities may fluctuate rapidly based on numerous factors, including: changes in supply and demand relationships (whether actual, perceived, anticipated, unanticipated or unrealized); weather; agriculture; trade; domestic and foreign political and economic events and policies; diseases; pestilence; technological developments; currency exchange rate fluctuations; and monetary and other governmental policies, action and inaction. Derivatives may be more sensitive to changes in market conditions and may amplify risks.
A liquid secondary market may not exist for commodity-linked derivative instruments. This may make them difficult for certain Funds to sell them at an acceptable price.
Because the Funds may effect redemptions principally for cash, rather than in-kind distributions, an investment in a Fund’s shares may be less tax efficient than investments in shares of conventional ETFs, and there may be a substantial difference in the after-tax rate of return between a Fund and conventional ETFs.
A Fund may engage in frequent trading of derivatives. Active and frequent trading may lead to the realization and distribution to shareholders of higher short-term capital gains, which would increase their tax liability. Frequent trading also increases transaction costs, such as commissions, which could detract from the Fund’s performance.
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