Shares of the BullMark LatAm Select Leaders ETF (BMLA) are to be delisted from the NASDAQ due to the fund’s non-compliance with the minimum shareholder requirement. The ETF is issued by Horizons ETF Trust and tracks an index provided by BullMark Financial Group, an asset manager and advisory firm based in Brazil.

BullMark Latin America ETF to close

NASDAQ informed BullMark that as of 18 August 2017, the number of shareholders of the fund was 39, below the exchange’s 50 shareholder minimum. BullMark elected to terminate the fund as soon as possible.

The ETF tracks the performance of equities domiciled in Latin America exhibiting above average dividend yield, based on trailing 12-month data and subject to minimum market capitalisation limits. The fund has returned 26.4% in the year to 31 August.

The ETF was launched in May 2016. As of 7 September 2017, the fund had assets of $3.4 million with a total expense ratio of 0.70%.