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]