After shuttering four ETFs in July, the last remaining FaithShares ETF has now suffered a similar fate. FaithShares Christian Value Fund (FOC) saw its last day of trading on August 31, 2011. All outstanding shares will be redeemed on September 14. All of the FaithShares funds were consistent members of ETF Deathwatch.
Additionally, the FaithShares Trust changed its name to Exchange Traded Concepts effective July 15, 2011. The reborn company now intends to offer turn-key ETF solutions for aspiring ETF managers. Using its existing exemptive relief approval from the SEC, the firm states it can get new ETFs launched in 75 days.
Disclosure covering writer, editor, and publisher: No positions in any of the securities mentioned. No positions in any of the companies or ETF sponsors mentioned. No income, revenue, or other compensation (either directly or indirectly) received from, or on behalf of, any of the companies or ETF sponsors mentioned.
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