/EINPresswire.com/ -- SUMMIT, NJ--(Marketwired - December 09, 2016) - ETF Managers Group, LLC today announced plans to close The Restaurant ETF (NASDAQ: BITE) based on an ongoing review of its offerings and market demand. Effective immediately, BITE will increase its cash holdings in contemplation of liquidation and will no longer accept creation orders.

Trading will be suspended on Nasdaq at the closing of the market on December 22, 2016. Proceeds of the liquidation will be sent to shareholders on or about December, 23, 2016. For added information, shareholders can visit www.biteetf.com.

About ETF Managers Group

ETF Managers Group, LLC is a leading Exchange Traded Funds (ETF) private label services company. ETF Managers Group offers a full range of ETF product services to the asset management community including commodity pool ETPs as well as both active and passive ETF funds. The services provided include product operations, regulatory, financial and compliance management. ETF Managers Group offers active marketing and dedicated wholesale services for all ETF product types and index construction.

Carefully consider the Funds' investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the Fund's prospectus, which may be obtained by calling 1-844-ETF-MGRS (1-844-383-6477), or by visiting www.biteetf.com. Read the prospectuses carefully before investing.

The Fund is distributed by ALPS Distributors, Inc., which is not affiliated with ETF Managers Group, LLC or any of its affiliates.

SDJ000344 Expires 12/05/2017