ProShares Ultra VIX Short-Term Futures ETF (NYSEArca: UVXY) will reverse split shares 1-for-10 after Thursday’s closing bell.

The overall value of shares held by an investor will not change. Investors will be left with fewer shares with each one at a higher price.

The reverse split will apply to shareholders of record as of the close of the markets on Sept. 6, ProShares said in press release. [VIX-Futures ETF to Reverse Split]

The fund will trade at its post-split price on Friday. The ticker will stay the same.

UVXY is a leveraged ETF designed to provide 200% of the daily performance of a basket of VIX futures contracts. It doesn’t replicate the CBOE Volatility Index spot price.

Volatility-linked ETFs dropped to new all-time lows Thursday and stocks rallied after the European Central Bank unveiled another bond-buying program. [Volatility ETFs Hit New All-Time Lows]

UVXY fell nearly 12% on Thursday. The ETF was down 93.2% year to date heading into Thursday’s session.

Earlier this year, UVXY conducted a 1-for-6 reverse split.

Despite their price declines, volatility-linked ETFs have seen significant inflows this year from investors seeking a hedge.

ProShares Ultra VIX Short-Term Futures ETF

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