The Inverse Cramer Tracker ETF to be Closed and Liquidated
January 25 2024 - 5:00PM
via IBN -- The Board of Trustees of the Northern Lights Fund Trust
IV (the “Board”) has authorized an orderly liquidation of the
Inverse Cramer Tracker ETF (Ticker: SJIM) (the “Fund”). On [January
25], 2024, 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 of the Fund’s shares on
CBOE will be [February 13], 2024 (“Closing Date”), which will also
be the last day the Fund will accept creation units from authorized
participants. Shareholders may sell their holdings in the Fund
prior to the Closing Date and customary brokerage charges may apply
to these transactions. Authorized Participants may redeem baskets
of shares for a pro rata portion of the Fund’s portfolio on hand
through the Closing Date.
The Fund is expected to cease operations,
liquidate its assets, and distribute the liquidation proceeds to
shareholders on [February 23], 2024 (the “Liquidation Date”).
From the Closing Date through the Liquidation
Date, shareholders may only be able to sell their shares to certain
broker-dealers and there is no assurance that there will be a
market for the Fund’s shares during this time period. Between the
Closing Date and the Liquidation Date, the Fund will be in the
process of closing down and liquidating its portfolio. This process
will result in the Fund increasing its cash holdings and, as a
consequence, not tracking its underlying index.
Shareholders remaining on the Liquidation Date
will receive cash at the net asset value of their shares as of that
date, which will include any capital gains and dividends as of such
date. The liquidating cash distribution to shareholders will be
treated as payment in exchange for their shares. The liquidation of
the Fund’s shares may be treated as a taxable event. Shareholders
should contact their tax adviser to discuss the income tax
consequences of the liquidation. Once the distributions are
complete, the Fund will terminate.
“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 Matthew Tuttle, the Fund’s
portfolio manager, who added, “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.” Tuttle continued, “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.” Tuttle will
continue to publish his free Cramer Tracker daily newsletter for
people who want to monitor Jim Cramer’s recommendations, available
at CramerTracker.SubStack.Com. He also offers a free report on his
website entitled “Fading the Consensus by Taking the Opposite Side
of Jim Cramer’s Picks,” available at
TuttleCap.com/free-reports/.
__________
The Inverse Cramer Tracker ETF is distributed by
Northern Lights Distributors, LLC, member FINRA/SIPC. Tuttle
Capital Management, LLC, the Fund’s adviser, is not affiliated with
Northern Lights Distributors, LLC. Short sales involve unlimited
loss potential since the market price of securities sold short may
continuously increase. 12787079-NLD-08182023
Contact:Matthew
Tuttle347-852-0548mtuttle@tuttlecap.com
Wire Service Contact:IBNLos Angeles,
Californiawww.InvestorBrandNetwork.com310.299.1717
OfficeEditor@InvestorBrandNetwork.com
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