ProShares Plans Reverse Splits On 3 ETFs

By
October 10, 2011
Share:


ProShares, the world's largest provider of leveraged and inverse funds, will do 1-for-3 reverse share splits on three of its double-exposure inverse funds, effective Oct. 13, the New York Stock Exchange said.

The funds are:

  • ProShares UltraShort Real Estate ETF (NYSEArca: SRS)
  • ProShares UltraShort Utilities ETF (NYSEArca: SDP)
  • ProShares UltraShort Yen ETF (NYSEArca: YCS)

 

Reverse share splits are designed to raise the per-share prices on each security. On Monday morning, SRS and YCS were trading at $16.68 and $12.50 per share, respectively; SDP was trading at $13.60 per share.

In the reverse splits, outstanding shares of each ETF will be exchanged for new shares at the 1-for-3 ratios, Arca, the NYSE’s electronic trading platform, said in an email.

Open orders on the ETFs at the close of business on Wednesday, Oct. 12 will be canceled, Arca said.

Each fund’s ticker will remain the same after the split, Arca said.

Officials at ProShares weren’t immediately available to comment.

ETF.COM CHANNELS

Interested in China? Use our China ETFs Channel, library, and ETF screener.

Interested in oil? Use our oil ETFs channel, library and ETF screener!

ETF DAILY DATA

The gold ETF took in nearly $860 million on Monday, May 2, as gold prices spiked near $1,300.

SSgA and Invesco PowerShares saw the largest ETF outflows of all issuers on Monday, May 2.

ETF.COM ANALYST BLOGS

By Drew Voros

With the broad equity ideas all taken, issuers look for thinner slices of exposure.

By David Lichtblau

How funds wash away capital gains through create/redeem process.

By Dave Nadig

End investors are the big winners; brokers—not so much.

By Dave Nadig

ETF industry petitions the SEC for market microstructure changes.

ETF INDUSTRY PERSPECTIVE

By Sprott Asset Management

New fund’s underlying index targets equities sentiment on social media.

By Kristi Kuechler

Avoid taking unrewarded—or unintended—risks.

By Vanguard

The investing giant outlines its expectations for the markets and global economy in 2016.