ProShares Ultra VIX ETF to Reverse Split 6-for-1 (UVXY)

ProShares, the fourth-largest U.S. ETF issuer and the largest issuer of leveraged and inverse funds, said it reverse split the ProShares Ultra VIX Short-Term Futures ETF UVXY on a six-for-one basis. UVXY will reverse split 1-for-6. The reverse split will apply to shareholders of record as of the close of the markets on March 7, 2012. The fund will trade at its post-split price on March 8, 2012, according to a statement from Maryland-based ProShares. UVXY, the only U.S.-listed ETF to offer magnified exposure to VIX futures, plunged 53% year-to-date prior to the start of trading today. The ETF seeks to replicate, net of fees and expenses, twice the return of the S&P 500 VIX Short-Term Futures index for a single day. UVXY held almost 91.3 million futures contracts as of Friday February 24, according to the ProShares Web site. ProShares sponsors 131 funds and has nearly $23 billion in assets.