SGI Enhanced Nasdaq-100 ETF, QXQ, NAV Restated

Rhea-AI Summary

Summit Global Investments has announced a restatement of the net asset value (NAV) for its SGI Enhanced Nasdaq-100 ETF (Ticker: QXQ). The correction addresses an error exceeding 1% in the previously disclosed NAV per share. The error occurred on July 3, 2024, and the NAV is being restated as of July 19, 2024.

The revised NAV for QXQ is $25.89, up from the original $25.53, representing a 1.41% adjustment. This restatement is due to an error in the NAV calculation process for the ETF.

Positive

• NAV adjustment results in a 1.41% increase for shareholders

Negative

• Error in NAV calculation exceeding 1% threshold
• Delay in identifying and correcting the NAV error (16 days)

BOUNTIFUL, Utah, July 19, 2024 /PRNewswire/ -- Summit Global Investments announces that the previously disclosed net asset value (NAV) per share of the SGI Enhanced Nasdaq-100 ETF [Ticker: QXQ], contained an error of greater than 1%. The NAV error occurred on 7/3/2024 and the NAV is being restated as of 7/19/2024.

ETF Name	Ticker	Revised	Original	Adjustment
SGI Enhanced Nasdaq-100 ETF	QXQ	$25.89	$25.53	1.41 %

The NAV adjustment is a result of an error in calculating the NAV for QXQ.

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SOURCE Summit Global Investments

FAQ

What is the new NAV for SGI Enhanced Nasdaq-100 ETF (QXQ) after the restatement on July 19, 2024?

The revised NAV for the SGI Enhanced Nasdaq-100 ETF (QXQ) after the restatement on July 19, 2024, is $25.89.

How much did the NAV of QXQ change due to the restatement?

The NAV of QXQ increased by 1.41%, from $25.53 to $25.89, due to the restatement.

When did the NAV error for QXQ occur?

The NAV error for QXQ occurred on July 3, 2024.

Why did Summit Global Investments restate the NAV for QXQ?

Summit Global Investments restated the NAV for QXQ due to an error in calculating the NAV that exceeded 1%.