NEW YORK, Aug. 30, 2017 /PRNewswire/ -- Virtus ETF
Solutions, an affiliate of Virtus Investment Partners, Inc.
(NASDAQ: VRTS) and multi-manager ETF sponsor, today announced that
effective September 1, 2017, the
BioShares Biotechnology Clinical Trials Fund (Ticker: BBC) and the
BioShares Biotechnology Products Fund (Ticker: BBP) will change
their names to the Virtus LifeSci Biotech Clinical Trials ETF and
the Virtus LifeSci Biotech Products ETF, respectively, and will
change their primary listing venue to NYSE Arca.
The funds, which are advised by Virtus ETF Advisers, will retain
their current ticker symbols when they commence trading on the NYSE
Arca exchange at market open on September 1,
2017. The funds will continue to trade on the NASDAQ
exchange prior to the change in their primary listing venue.
Current BBC and BBP shareholders are not required to take any
actions as a result of these changes.
About Virtus ETF Solutions
Virtus ETF Solutions (VES)
is a New York-based, multi-manager
ETF sponsor and affiliate of Virtus Investment Partners (NASDAQ:
VRTS). With actively managed and index-based investment
capabilities across multiple asset classes, VES offers a range of
complementary exchange-traded-funds subadvised by select investment
managers.
About Virtus Investment Partners
Virtus Investment
Partners (NASDAQ: VRTS) is a distinctive partnership of boutique
investment managers singularly committed to the long-term success
of individual and institutional investors. The company provides
investment management products and services through its affiliated
managers and select subadvisers, each with a distinct investment
style, autonomous investment process, and individual brand. Virtus
Investment Partners offers access to a variety of investment styles
across multiple disciplines to meet a wide array of investor needs.
In addition to Virtus ETF Solutions, its affiliated managers
include Ceredex Value Advisors, Duff & Phelps Investment
Management, Kayne Anderson Rudnick Investment Management, Newfleet
Asset Management, Rampart Investment Management, Seix Investment
Advisors, and Silvant Capital Management. Additional information
can be found at
virtus.com
These funds are exchange-traded funds (ETFs). The net asset
value (NAV) of the fund is determined at the close of each business
day, and represents the dollar value of one share of the fund; it
is calculated by taking the total assets of the fund, subtracting
total liabilities, and dividing by the total number of shares
outstanding. The NAV of the fund is not necessarily the same as its
intraday trading value. Fund investors should not expect to buy or
sell shares at NAV because shares of ETFs, such as the fund, are
bought and sold at market price (not NAV) and are not individually
redeemed from the fund. Thus, shares may trade at a premium or
discount to their NAV in the secondary market. Brokerage
commissions will reduce returns.
Each of BioShares Biotechnology Clinical Trials Fund and
BioShares Biotechnology Products Fund is managed with a passive
investment strategy that seeks to track the performance of a
specified index. As a result, each fund may hold constituent
securities of its underlying index regardless of the current or
projected performance of a specific security or the biotechnology
industry as a whole. Shares of any exchange-traded fund are bought
and sold at market price (not net asset value) and are not
individually redeemed from the fund. Thus, shares may trade at a
premium or discount to their net asset value in the secondary
market. Brokerage commissions will reduce returns.
You should consider each fund's investment objectives, risks,
and charges and expenses carefully before investing. Contact Virtus
ETF Solutions at 1-888-383-0553 or visit www.virtusetfs.com to
obtain a prospectus, which contains this and other information
about each fund. The prospectus should be read carefully before
investing.
Important Risk Considerations:
Exchange Traded
Funds: The value of an ETF may be more volatile than the
underlying portfolio of securities the ETF is designed to track.
The costs of owning the ETF may exceed the cost of investing
directly in the underlying securities.
Industry/Sector Concentration: A fund that focuses its
investments in a particular industry or sector will be more
sensitive to conditions that affect that industry or sector than a
non-concentrated fund.
Market Price/NAV: At the time of purchase and/or sale, an
investor's shares may have a market price that is above or below
the fund's NAV, which may increase the investor's risk of loss.
Correlation to Index: The performance of the fund and its index
may vary somewhat due to factors such as fund flows, transaction
costs, and timing differences associated with additions to and
deletions from its index.
Non-Diversified: The fund is non-diversified and may be more
susceptible to factors negatively impacting its holdings to the
extent that each security represents a larger portion of the fund's
assets.
No Guarantee: There is no guarantee that the portfolio will
meet its objective.
Prospectus: For additional information on risks, please see
the fund's prospectus.
Virtus ETF Advisers LLC serves as the investment adviser to the
Fund.
Distributed by ETF Distributors LLC, member FINRA and
subsidiary of Virtus investment Partners, Inc.
View original
content:http://www.prnewswire.com/news-releases/virtus-etf-solutions-rebrands-bioshares-etfs-moves-listings-for-bbc-bbp-to-nyse-arca-300511663.html
SOURCE Virtus ETF Solutions