ProShares, the largest issuer of inverse and leveraged exchange traded funds, said Friday it split five of its leveraged funds and reverse split 17 inverse and leveraged products.
Maryland-based ProShares issued a statement after the close of U.S. markets Friday.
The firm will split on a 2-for-1 basis the following ETFs: The ProShares Ultra Nasdaq Biotechnology (NasdaqGS: BIB), the Ultra MidCap400 ProShares (NYSEArca: MVV), the ProShares UltraPro 3x Financial (NYSEArca: FINU), the ProShares UltraPro QQQ (NasdaqGS: TQQQ) and the ProShares Short VIX Short-Term Futures (NYSEArca: SVXY). All of those ETFs carry triple-digit price tags.
All splits will apply to shareholders of record as of the close of the markets on January 21, 2014, payable after the close of the markets on January 23, 2014. The ETFs will trade at their post-split price on January 24, 2014, ProShares said in the statement.