Earlier today, GraniteShares announced that it intends to reposition and rename the GraniteShares XOUT U.S. Large Cap ETF (NYSE: XOUT) (the "Fund"). The firm will change the Fund's ticker symbol, investment target, and strategy as part of this repositioning. The Fund's index provider will transition from XOUT Capital, LLC to NASDAQ, Inc., and the underlying …
Earlier today, GraniteShares announced that it intends to reposition and rename the GraniteShares XOUT U.S. Large Cap ETF (NYSE: XOUT) (the “Fund”). The firm will change the Fund’s ticker symbol, investment target, and strategy as part of this repositioning. The Fund’s index provider will transition from XOUT Capital, LLC to NASDAQ, Inc., and the underlying index will change as described below.The fund will begin to pursue investment results that correspond to the price and yield (before the Fund’s fees and costs) of an index called the Nasdaq US Large Cap Select Disruptors Index (the “New Index”) starting August 15, 2023.
The New Index is intended to give investors exposure to some of the most disruptive companies in the US market. Stocks are assessed and selected for inclusion in the index using a multi-factor scoring algorithm that captures ‘disruption’ across all three stages of the business life cycle namely infancy, expansion, and maturity. The New Index consists of 50 companies with the highest ‘Disruption Scores’ among US large cap equities.
Concurrently, the Fund’s name will be changed to “GraniteShares Nasdaq Select Disruptors ETF” and its ticker symbol will be “DRUP”. The shares of the Fund will continue to be traded on the New York Stock Exchange (NYSE). The CUSIP of the Fund is not expected to change.
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Please note that this article does not offer any instructions or suggestions regarding investment decisions. It is important for you to conduct your own research or seek professional advice from a qualified professional before conducting an investment decision.
