ETF Trends
ETF Trends

ProShares, the largest issuer of inverse and leveraged exchange traded funds, said Tuesday it will split seven of its inverse and leveraged funds. The announcement was made in a statement released after the close of U.S. markets.

Maryland-based ProShares said it will forward split the ProShares UltraShort MSCI Brazil Capped ETF (NYSEArca: BZQ) and the ProShares UltraShort Silver (NYSEArca: ZSL), which takes the -200% performance of silver price movements, each on a 2-for-1 basis.

“All splits will apply to shareholders of record as of the close of the markets on November 10, 2015, payable after the close of the markets on November 12, 2015. The funds will trade at their post-split price on November 13, 2015. The ticker symbol and CUSIP numbers for the funds will not change,” said ProShares in the statement.

ProShares is also implementing five reverse splits. The ProShares Ultra Gold Miners (NYSEArca: GDXX), ProShares Ultra Junior Miners (NYSEArca: GDJJ), Ultra Oil & Gas Exploration & Production (NYSEArca: UOP) and the ProShares Ultra MSCI Brazil (NYSEArca: UBR) will all be reverse split on a 1-for-3 basis. The UltraPro NASDAQ Biotechnology (NasdaqGM: UBIO) will undergo a 1-for-5 reverse split.

“All reverse splits will be effective at the market open on November 13, 2015 when the funds will begin trading at their post-split price. The ticker symbol for the funds will not change. All funds undergoing a reverse split will be issued a new CUSIP number, listed above,” said ProShares.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.