Toronto-based Horizons ETFs Management (Canada) Inc. said Tuesday it intends to consolidate the units of Horizons S&P/TSX 60TM Index ETF (TSX:HXT, HXT.U).

After the close of trading on September 6, units of HXT will be consolidated using a 1:2 ratio, and will begin trading on a post consolidated basis on September 9.

“This unit consolidation will further enhance the appeal of HXT for institutional and high net worth investors,” said Howard Atkinson, president of Horizons ETFs. “HXT is already the lowest cost ETF in Canada and this consolidation makes it more cost efficient to trade, as well.”