NEWTOWN SQUARE, PA — Empowered Funds LLC will liquidate the AOT Software Platform ETF on or about Aug. 19, following a review of investor demand, thereby ending trading in the fund and returning the remaining assets to shareholders.
The exchange-traded fund, listed on NYSE Arca under the ticker AOTS, will stop trading after the market closes Aug. 18 and will no longer accept purchase orders after that date.
Investors may sell shares before the liquidation, though Empowered Funds cautioned that trading could be limited to certain broker-dealers and that a market for the shares may not remain available through the final trading day.
The fund may also depart from its stated investment objective as it prepares to close, including by increasing cash holdings and reducing exposure to portfolio investments.
After the liquidation date, the fund will distribute cash to shareholders of record on a pro rata basis, subject to any required withholding. The fund will terminate once the distributions are completed.
The payments generally will be treated as proceeds from an exchange of shares, potentially creating a taxable capital gain or loss based on an investor’s tax basis. Distributions may also include accrued dividends and capital gains.
The fund’s net asset value on the liquidation date will reflect any costs associated with closing the portfolio.
Empowered Funds, which does business as ETF Architect, serves as the investment adviser. AOT Invest LLC is the sub-adviser, while PINE Distributors LLC distributes the fund.
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