ProShares Announces Splits of Four ETFs
ProShares, the largest U.S. issuer of leveraged and inverse ETFs, announced splits for several of its leveraged products. The ProShares UltraSilver (NYSE: AGQ) will be split two-for-one. The split will apply to shareholders of record as of the close of the markets on October 10, 2011, payable after the close of the markets on October 12, 2011, ProShares said in a statement.
The firm also announced one-for-three reverse splits for the following ETFs: ProShares UltraShort Yen (NYSE: YCS), ProShares UltraShort Real Estate (NYSE: SRS) and the ProShares UltraShort Utilities (NYSE: SDP).
All of those funds will be reverse split on October 12 and trade post-split the next day.
Maryland-based ProShares had 122 ETFs with $26.1 billion in assets under management at the end of August, according to data from the National Stock Exchange. Overall, the firm is the fifth-largest U.S. ETF sponsor.
