ProShares Plans Share Splits on Leveraged and Inverse ETFs
May 29th, 2013 at 11:28am by Tom Lydon
With increased activity in the stock markets, alternative exchange traded fund provider ProShares plans on executing share splits for popular leveraged products and reverse share splits on declining inverse strategies.
According to ProShares, the seven ETFs will undergo a 2-for-1 share split as of the close of markets on June 5 and payable after the close of markets on June 7. The funds will begin trading at their post-split price on June 10.
- ProShares Ultra Consumer Goods (NYSEArca: UGE)
- ProShares UltraPro S&P500 (NYSEArca: UPRO)
- ProShares UltraPro MidCap400 (NYSEArca: UMDD)
- ProShares Ultra Russell3000 (NYSEArca: UWC)
- ProShares Ultra Health Care (NYSEArca: RXL)
- ProShares Ultra Consumer Services (NYSEArca: UCC)
- ProShares UltraPro Russell2000 (NYSEArca: URTY)
The 2-for-1 split will cut the price per share on each fund while proportionately increasing the number of shares outstanding by a factor of two.
Companies typically enact a price split to help make shares seem more affordable to smaller investors.
Next page: Reverse split ETFs