ProShares is moving three of its dividend growth exchange traded funds, including the popular ProShares S&P 500 Aristocrats ETF (NYSEArca: NOBL), to the Bats Exchange from the NYSE Arca. The move is scheduled to take place on or about Dec. 29, 2016.
The ProShares MSCI EAFE Dividend Growers ETF (NYSEArca: EFAD) and the ProShares MSCI Europe Dividend Growers ETF (NYSEArca: EUDV) are also moving to the Bats Exchange.
The ProShares Russell 2000 Dividend Growers ETF (BATS: SMDV), ProShares S&P MidCap 400 Dividend Aristocrats ETF (BATS: REGL) and the ProShares MSCI Emerging Markets Dividend Growers ETF (BATS: EMDV) already trade on the Bats Exchange.
“By moving NOBL, EFAD and EUDV to the Bats Exchange, ProShares is now able to offer its full suite of dividend growers ETFs on one exchange. ProShares Dividend Growers ETFs focus on the companies with the longest track records of dividend growth in some of the most popular U.S. and international indexes. These range from U.S. large-, mid- and small-cap indexes, to broad international and Europe-focused indexes,” said Maryland-based ProShares in a statement.
Like, NOBL, the ProShares S&P MidCap 400 Dividend Aristocrats ETF tracks a dividend aristocrats index. The midcap dividend aristocrats index, though, only requires 15 consecutive years of increased dividends for inclusion.
The ProShares Russell 2000 Dividend Growers ETF, a dividend spin on the Russell 2000, the benchmark U.S. small-cap index, tracks the Russell 2000 Dividend Growth Index. That index includes small-cap firms with dividend increase streaks of at least a decade. Index constituents are screened for liquidity and dividend status, then selected and equal weighted subject to a maximum sector weight of 30%.
Bats is one of three exchanges that provide coverage for the $2.4 trillion U.S.-listed ETF market, competing against the dominant NYSE Arca exchange, which lists ETFs worth $2.23 trillion, and Nasdaq Inc.
Earlier this year, Chicago Board Options Exchange revealed it is acquiring Bats for a deal that, when initially announced, was valued at $3.2 billion.
Bats has been enticing ETF listings through its cash incentives programs. Recently, Bats adopted a program that would allow lead market makers to receive as much as $400,000 per ETF each year on the BATS exchange, depending on the average daily volume.
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