Market Overview

ProShares to Split 2, Reverse Split 9 ETFs


ProShares, the largest issuer of inverse and leveraged ETFs, announced 2-for-1 splits for two of its ETFs and reverse splits for nine of its funds. The ProShares Ultra Nasdaq Biotechnology (NASDAQ: BIB) and the ProShares Short VIX Short-Term Futures ETF (NYSE: SVXY) will be split 2-for-1.

All splits will apply to shareholders of record as of the close of the markets on October 2, 2012, payable after the close of the markets on October 4, 2012. The funds will trade at their post-split price on October 5, 2012, according to a statement issued by ProShares.

Nine ProShares ETFs will be reverse split on a 1-for-4 basis. Those funds are as follows: ProShares UltraShort 20+ Year Treasury (NYSE: TBT), the ProShares UltraShort S&P500 (NYSE: SDS), the ProShares UltraShort Gold (NYSE: GLL), the ProShares UltraPro Short Dow30 (NYSE: SDOW), the ProShares UltraShort Basic Materials (NYSE: SMN), the ProShares Ultra MSCI Brazil (NYSE: UBR), the ProShares UltraShort Health Care (NYSE: RXD), the ProShares UltraShort Nasdaq Biotech (NASDAQ: BIS) and the ProShares UltraShort Consumer Goods (NYSE: SZK).

Those funds will also trade at their post-split prices on October 5.

For more on ETFs, click here.

Posted-In: News Sector ETFs Broad U.S. Equity ETFs Specialty ETFs Emerging Market ETFs Stock Split Pre-Market Outlook Markets


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