ProShares, the largest issuer of inverse and leveraged exchange traded funds, said it will liquidate 17 of its geared funds, all of which trade on the New York Stock Exchange.
Maryland-based ProShares made the announcement after the close of U.S. markets Tuesday.
“We continually review our lineup of ETFs to ensure our products meet the changing needs of investors,” said Steve Cohen, managing director and head of strategy for ProShare Advisors, LLC, in a statement. “Investor preferences and client feedback indicate these funds have little long-term demand.”
Among the 17 closures are three fixed income ETFs – the ProShares Short 30 Year TIPS/TSY Spread (NYSEArca: FINF), ProShares UltraPro 10 Year TIPS/TSY Spread ETF (NYSEArca: UINF) and the ProShares UltraPro Short 10 Year TIPS/TSY Spread (NYSEArca: SINF).
The other ProShares closures include a batch of inverse and leveraged ETFs that track indexes from Russell Investments, including the ProShares UltraShort Russell Mid Cap Growth ETF (NYSEArca: SDK), ProShares Ultra Russell MidCap Value ETF(NYSEArca: UVU), ProShares UltraShort Russell MidCap Value ETF(NYSEArca: SJL), ProShares Ultra Russell 1000 Growth (NYSEArac: UKF), ProShares UltraShort Russell1000 Growth ETF (NYSEArca: SFK) and the ProShares Ultra Russell1000 Value (NYSEArca: UVG).