WHEATON, Ill.--(BUSINESS WIRE)--In the third and fourth paragraphs of the release all dates should be for January of 2026 (instead of January of 2025). The updated release reads: Based upon the recommendation of FTA, the investment advisor of the Fund, the Board of Trustees of First Trust Exchange-Traded Fund III determined that it was in the best interests of the Fund to liquidate the Fund. Accordingly, the Board of Trustees approved the liquidation of the Fund pursuant to a plan of liquidation and termina ...

Core Points - The Texas Capital Funds Trust Board has authorized the orderly liquidation of the Texas Capital Texas Small Cap Equity Index ETF (TXSS) due to considerations of the Fund's size, asset composition, and growth trajectory, determining it is in the best interest of the Fund and its shareholders [1] - The last trading day for TXSS shares on NASDAQ will be December 8, 2025, with operations ceasing and assets liquidating by December 15, 2025 [2] - Shareholders holding shares through the Liquidation Date will receive cash distributions based on the net asset value (NAV) of their holdings, which may have tax implications [3] Company Overview - Texas Capital Bancshares, Inc. is the parent company of Texas Capital Bank, a full-service financial services firm founded in 1998, headquartered in Dallas, with a presence in multiple Texas cities [4] - Texas Capital provides a range of services including commercial, consumer, private, and capital markets capabilities, serving clients throughout their lifecycle [5] - Texas Capital Bank Private Wealth Advisors, a subsidiary of Texas Capital Bank, serves as the investment adviser to the Fund [6]

Core Points - Tidal Financial Group announced the closure and liquidation of the FIRE Funds™ Income Target ETF (FIRI) and the FIRE Funds™ Wealth Builder ETF (FIRS) as determined by the Board of Trustees of Tidal Trust III [1][2] Fund Closure Details - The FIRI and FIRS funds will cease trading on the NYSE Arca at the close of regular trading on October 24, 2025, and will not accept creation orders after this date [2] - Shareholders can sell their holdings prior to the Closing Date through standard brokerage transactions, but after October 24, 2025, they will receive cash distributions as part of the liquidation process [3] Liquidation Process - Between October 24, 2025, and October 30, 2025, the funds will begin liquidating their holdings and increasing cash positions, which will lead to a departure from their stated investment strategy [4] - On or around October 30, 2025, the funds will distribute remaining net assets to shareholders of record who have not sold their shares prior to liquidation, with distributions treated as a taxable event [5][6] Company Background - Tidal Financial Group, formed by ETF industry pioneers, aims to revolutionize ETF development, marketing, and sales, focusing on growing assets under management (AUM) and providing innovative tools and methodologies [7]

Core Viewpoint - Direxion Shares ETF Trust has decided to liquidate and close three ETFs due to insufficient investment assets, which is deemed to be in the best interest of the Funds and their shareholders [1] Fund Closure Details - The Funds will cease trading on NYSE Arca and will be closed to new purchases as of October 23, 2025 [2] - Shareholders can sell their holdings before the Closing Date, but from October 23 to October 30, 2025, sales may be limited to certain broker-dealers, and there may not be a market for the shares during this period [3] Liquidation Process - On or about the Liquidation Date, the Funds will liquidate their assets and distribute cash pro rata to shareholders who have not sold their shares, with these distributions being taxable events [4] - The net asset value of each Fund on the Liquidation Date will reflect the costs associated with closing the Fund [4] Company Overview - Direxion, founded in 1997, manages approximately $57.4 billion in assets as of September 30, 2025, and offers ETF solutions tailored for various investor strategies [5]

Core Viewpoint - Tidal Financial Group and Defiance ETFs have announced the closure and liquidation of the Battleshares™ TSLA vs F ETF, determining it to be in the best interest of the fund and its shareholders [1] Fund Closure Details - The Battleshares™ TSLA vs F ETF will cease trading on the NYSE Arca at the close of regular trading on October 6, 2025, and will no longer accept creation orders from that date [2] - Shareholders can sell their holdings prior to the Closing Date through standard brokerage transactions, which may incur customary brokerage fees [3] Liquidation Process - Between October 6, 2025, and October 10, 2025, the Fund will begin liquidating its holdings and increasing its cash position in preparation for final distribution, during which the portfolio will deviate from its stated investment strategy [4] - On or around October 10, 2025, the Fund will distribute its remaining net assets to shareholders of record who have not sold their shares prior to liquidation, with the final distribution made in cash on a pro rata basis [5] - After the distribution of net assets is complete, the Fund will be officially terminated [6] Company Background - Tidal Financial Group, formed by ETF industry pioneers, aims to revolutionize the development, launch, marketing, and sale of ETFs, focusing on growing assets under management (AUM) and providing comprehensive services and tools for ETF innovation [7]

Group 1 - Low-cost ETFs require revenue generation to cover costs, leading to regular ETF closures due to insufficient assets [1] - A significant percentage of ETFs are at risk of closure, but investors typically do not lose their investments upon closure [1][2] - For each high-closure-risk ETF, there are usually larger, more viable alternatives available [2] Group 2 - Upon the decision to delist or liquidate an ETF, a prospectus supplement will announce the last trading date and liquidation date [3] - The fund will halt creations and prepare to convert to cash, causing performance divergence from the underlying index [3][4] - Indicative net asset value (iNAV) will continue to be published, and it is advisable to sell shares before the last trading day [4] Group 3 - Liquidation typically results in cash distributions equal to NAV, making it less cumbersome than delisting [5] - If an ETF delists without liquidating, investors must trade over the counter, which is generally more complicated and costly [6] Group 4 - ETF closures can lead to reputation risk for advisors, as recommending a fund that closes can result in difficult conversations with clients [7] - Reinvestment risk arises when an ETF delists or liquidates, requiring investors to find new investment opportunities for their cash-equivalent NAV [7]