NEW YORK--(BUSINESS WIRE)--VanEck announced today that the Board of Trustees of VanEck Vectors ETF Trust has approved a 1-for-5 reverse split of the shares of VanEck Vectors High Income MLP ETF (NYSE Arca:YMLP).

The effective date of the split will be at market open on June 29, 2016. The Fund will continue to trade on the NYSE Arca under the ticker symbol “YMLP,” but the current CUSIP number (92189F551) will be discontinued and the Fund’s new CUSIP number (92189F288) will be effective June 29, 2016.

The Depository Trust Company (“DTC”), the registered owner of all Fund shares, has been notified of the reverse split and has been instructed to adjust each shareholder’s investment accordingly.

Shares of the Fund will be offered on a split-adjusted basis on June 29, 2016. The total market value of the shares outstanding will not be affected as a result of this reverse split, except with respect to the redemption of fractional shares, as discussed below.

For shareholders who hold quantities of shares that are not an exact multiple of the reverse split ratio (for example: a multiple of 5 for a 1-for-5 split), the reverse splits will result in the creation of fractional shares. Post-split fractional shares will be redeemed for cash and sent to the broker of record. This redemption may cause some shareholders to realize a gain or loss, which could be a taxable event for those shareholders. Otherwise, the reverse split will not result in a taxable transaction for shareholders of the Fund.

About VanEck

VanEck’s mission is to offer intelligently designed investment strategies that take advantage of targeted market opportunities. Founded in 1955, the firm is a pioneer in global investing with a history of placing clients’ interests first in all market environments. Today, VanEck continues this tradition by offering innovative active and passive investment portfolios in hard assets, emerging markets equity and debt, precious metals, fixed income, and other alternative asset classes. VanEck Vectors exchange-traded products are one of the largest ETP families in the world, managing more than 70 funds that span a range of sectors, asset classes and geographies. As of May 31, 2016, VanEck managed approximately $31.7 billion in assets, including mutual funds, ETFs, and institutional accounts.