Cinthia Murphy

Cinthia Murphy is managing editor of ETF.com, specializing in all things ETFs. Her experience includes time at Dow Jones and former BridgeNews, covering commodity futures markets in Chicago and Brazil equities in Sao Paulo. Murphy has a bachelor’s degree in journalism from the University of Missouri-Columbia.

Features and News

Case Shiller: US Housing Slumping

The U.S. housing sector is looking more and more like it's back in a slump.

Features and News

ProShares Plans Splits, Reverse Splits

ProShares, the Bethesda, Md.-based ETF provider known for its extensive roster of leveraged and inverse funds, announced share splits on four of its ETFs and reverse share splits on another 20, effective next week.

All the share splits, which will apply to shareholders of record after the close on Feb. 22 and that will be payable after the close on Feb. 24, will decrease the price per share and increase the number of shares outstanding, but won’t change the value of a shareholder’s investment, the company said today in a press release. Starting Feb. 25, the funds will begin trading at their post-split prices.

The funds splitting shares, their respective tickers and applicable split ratios are:

  • ProShares UltraPro QQQ (NYSEArca: TQQQ), 2-for-1
  • ProShares UltraPro Russell 2000 (NYSEArca: URTY), 2-for-1
  • ProShares UltraPro MidCap 400 (NYSEArca: UMDD), 2-for-1
  • ProShares UltraPro S&P 500 (NYSEArca: UPRO), 3-for-1

 

Thirteen funds will undergo reverse splits at the close on Feb. 24 on a 1-to-4 basis, and another seven will do so on a 1-to-5 ratio.

The reverse splits increase the price per share, but decrease the number of shares outstanding.

Splits can lead to fractional shares for investors not holding an exact multiple of the reverse split. Such fractional shares will be redeemed for cash, which can mean an investor might realize gains or losses and be taxed on those, the company said in the statement.

The funds undergoing 1-for-4 reverse splits are:

  • ProShares UltraShort MSCI Europe (NYSEArca: EPV)
  • ProShares UltraShort MidCap 400 (NYSEArca: MZZ)
  • ProShares UltraShort Technology (NYSEArca: REW)
  • ProShares UltraShort SmallCap 600 (NYSEArca: SDD)
  • ProShares UltraShort Russell MidCap Growth (NYSEArca: SDK)
  • ProShares UltraShort Industrials (NYSEArca: SIJ)
  • ProShares UltraShort Russell 2000 Value (NYSEArca: SJH)
  • ProShares UltraShort Russell MidCap Value (NYSEArca: SJL)
  • ProShares UltraShort Financials (NYSEArca: SKF)
  • ProShares UltraShort MSCI Mexico Investable Market (NYSEArca: SMK)
  • ProShares UltraShort Russell 2000 (NYSEArca: TWM)
  • ProShares Ultra DJ-UBS Crude Oil (NYSEArca: UCO)
  • ProShares UltraShort Silver (NYSEArca: ZSL)

 

Those undergoing 1-for-5 splits are:

  • ProShares UltraShort DJ-UBS Commodity (NYSEArca: CMD)
  • ProShares UltraShort MSCI Pacific ex-Japan (NYSEArca: JPX)
  • ProShares UltraShort QQQ (NYSEArca: QID)
  • ProShares UltraShort DJ-UBS Crude Oil (NYSEArca: SCO)
  • ProShares UltraShort Russell 2000 Growth (NYSEArca: SKK)
  • ProShares UltraShort Semiconductors (NYSEArca: SSG)
  • ProShares UltraShort Telecommunications (NYSEArca: TLL)

 

ProShares has more than $25 billion in assets across its 115 ETFs.

 

Features and News

First Trust Rolls Out Smart Phone ETF

First Trust takes on broader tech ETFs with its new "Smart Phone" ETF.

 

Features and News

Deutsche Tweaks Currency-Hedged ETFs

Deutsche Bank updated papers it originally filed with U.S. regulators in the fall to reflect new tickers and planned fees for five passive international equity ETFs from developed and developing countries alike that share a currency-hedging feature aimed at stabilizing returns.

Features and News

Pimco Tops Among Institutions, Cogent Says

Pimco and Loomis Sayles top new survey of institutional investors’ preferences.

Features and News

Russell Pioneers ‘Stability’ Indexes

Russell pushes the envelope on style investing with new stablility indexes.

Features and News

Guggenheim Plans 4 Int’l Equity ETFs

Guggenheim Funds, the Lisle, Ill.-based money management firm, filed paperwork with U.S. regulators this week to market four international exchange-traded funds that are linked to BNY Mellon indexes.

The filing comes a week after the company rolled out four of nine planned target-maturity fixed-income ETFs. The new international equity ETFs would join Guggenheim’s roster of global equity funds, which amount to 16 ETFs today, half of which are sector-specific.

Guggenheim Funds Investment Advisors is the advisor for the ETFs. The company didn’t disclose tickers or fees.

The proposed funds, and some of their characteristics, are:

  • The Guggenheim ABC High Dividend ETF will replicate the rules-based BNY Mellon ABC Index, a benchmark comprising 30 securities and U.S.-listed American depositary receipts of companies from Australia, Brazil and Canada. All have paid dividends to shareholders in the past two years, according to the filing.
  • The Guggenheim BMAC Commodity Producers ETF will track the BNY Mellon BMAC Index that measures the performance of some 30 companies either through securities or ADRs from Brazil, Mexico, Australia and Canada. Each will have float market capitalization of at least $200 million. All names included in the mix must be part of either oil and gas or basic materials sectors, or belong to building materials and fixtures subsector, the filing said.
  • The Guggenheim Small-Mid Cap BRIC ETF will be a small- and mid-cap version of the company’s other BRIC strategy, the $780 million Guggenheim BRIC ETF (NYSEArca: EEB). The planned ETF will track the BNY Mellon Small-Mid BRIC Index, which has about 44 securities, ADRs and U.K.-traded depositary receipts from Brazil, Russia, India and China.
  • The Guggenheim International High Dividend ETF comprises some of the top 30 securities and ADRs already included in the BNY Mellon ADR Index and DJ Canada TSM Index. The selection process screens for companies from developed and emerging markets with a minimum free-float market capitalization of $5 billion, among other criteria. Only the top 30 stocks based on the highest average three years' yield are selected, the filing said.

 

Guggenheim Funds Investment Advisors is the advisor for the ETFs, according to the filing.

The paperwork was submitted by the Claymore ETF Trust, a vestige of the days before Guggenheim acquired both Claymore and the exemptive relief status that gives it permission from U.S. securities regulators to market ETFs.